АНАЛИЗ И ОЦЕНКА НА КРЕДИТОСПОСОБНОСТТА НА БЪЛГАРСКИТЕ ОБЩИНИ ПОСРЕДСТВОМ КРЕДИТЕН СКОРИНГ
ANALYSIS AND ASSESSMENT OF MUNICIPAL CREDITWORTHINESS BY CREDIT SCORING

Summary/Abstract: This paper is intended to present municipal credit rating as one of the most contemporary methods for municipal creditworthiness assessment and a basic precondition for municipal credit market development. On the base of comparative analysis of the world rating agencies’ practice, an adapted credit rating model has been propounded. The model is aimed at assessing municipal creditworthiness in Bulgaria, by binding the concrete dynamics of the qualitative and quantitative indicators included in the model to the macroeconomic framework, governmental policy, and intergovernmental fiscal relations in the country. Applying the adapted credit rating model in Bulgaria is an important precondition for development of an active, stable, and liquid municipal credit market, capable of ensuring significant advantages for the country during the accession process.

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