The city of Birmingham has recently been given a welcome double dose of good news for business.
The first is that the city has ended up with a better credit rating than the USA and the second is that it features in the top twenty cities in Europe to do business according to a leading survey.
The credit rating agency Moody’s has given Birmingham City Council a AAA credit rating while Standard & Poor’s has awarded it a AA+ rating with a stable outlook.
The council’s track record in looking after its finances coupled with the UK government’s willingness to step in as lender of last resort convinced the agencies to give the city council such good ratings.
This will allow the council to choose between borrowing from government via the Public Works Loan Board, or maybe getting a better deal from a bank.
The latest Cushman & Wakefield European Cities Monitor keeps Birmingham as the 18th ‘best city to locate a business’. It is one of only three UK cities to feature in the top twenty.
Neil Rami, Chief Executive of Marketing Birmingham said “With the current economic challenges facing Europe, it is good news that Birmingham has retained its top 20 ranking and emerged as a solid bet for businesses to locate.”
The city also maintained its fourth position on the ladder of cities with the most available office space.
It also rose from 27th to 22nd on the list of ‘best cities in terms of freedom from pollution’.
Another Cushman & Wakefield report last week also had Birmingham at 16th place in the world’s top 25 university cities coming only second within the UK behind Edinburgh.