The Bulgarian ace, who is preparing to face England in their Euro 2012 qualifier on Friday, joined Bolton on a free transfer earlier this summer after seeing out his contract at big-spending City.
The 31-year-old was unhappy at how he was treated at City during his last season at the club and he admits he is enjoying his new challenge at Bolton.
"100 per cent no, I don't miss City. If I accepted their one-year offer now I would be on loan somewhere else," Petrov told Bulgarian newspaper Trud.
"At City nothing is clear. The team are looking for identity."
The left-sided winger claims there is no trust at City with so many players coming and going at Eastlands.
"At the moment at City people are becoming more bad than good," added Petrov. "The human relationships are lost and the trust is lost too. In this situation the players are going to play like millionaires in games and are not a team on the pitch."