November 19, 2020 - Moody’s upgraded the rating of the long-term credit rating of the City of Zagreb and Zagreb Holding to Ba1 from Ba2 on Tuesday, November 17, with a change in the outlook from stable to positive.
The agency's report states, among other things, that the increase in the City of Zagreb's rating reflects an improvement in the country's credit rating, continued good budget management practices and a stable financial base that is estimated to withstand the effects of the coronavirus pandemic.
The upgrade of Zagreb Holding's rating is based on a very strong connection with the owner - the City of Zagreb, its clear public policies and the key role of Zagreb Holding in the municipal sector of the City of Zagreb.
The credit opinion is available at the following link:
Moody's Press Release published 17 November 2020