Bulgarian Resorts Sport International Credit Rating

www.novinite.com, 2006-07-17

     International credit agency Global Ratings presented Bulgarian resorts with certificates for short- term and long- term credit rating, which is considered to be an important guide for local and foreign investors.
     Global Ratings has assigned a BB + (stable) local currency rating of Chepelare Municipality. The other municipalities are Asenovgrad (BB), Rodopi, Petrich (A+), Dobrich (AA-), Strumnyani (B+), and Banite (B+). All with stable outlook, except for Banite, which was assigned positive.
     The credit rating is a basic prerequisite of the economic system of the single European market, where the Basel II standards are used, the Bulgarian News Agency commented.
     Bulgaria is scheduled to accede to the European Union on January 1, 2007.
     Asenovgrad, situated in the Plovdiv region, is known as the Small Jerusalem because there are 11 churches and 53 chapels on its territory. Religious and cultural tourism is developed there. Banite and Chepelare are located in the Rhodopes Mountain, near Smolyan. Banite has a strategic position as a recreation and tourist center. Chepelare is known for its nearby sky- resort Pamporovo. Strumyani and Petrich are located in the Southwestern part of Bulgaria. Petrich is known for its rich history and important roads that cross it. During the middle ages there was the fortress of King Samuil, one of city emblems. At presence efforts are focused on building a direct connection with Berovo, Macedonia. Dobrich is economic and administrative center of Dobrudzha region. The town is divided into four park regions and relies on ecological tourism.

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