articles | 28 September 2015

Cyprus welcomes ratings boost

The government has welcomed the upgrade of Cyprus' long-term sovereign credit ratings to 'BB-' from 'B+' by the Standard and Poor's credit rating agency.

"It confirms the fact that the correct path and prudent policy followed during the last two and a half years should continue,” Government Spokesman Victoras Papadopoulos said.

Rating agency Standard & Poor's upgraded on Friday its assessment of Cyprus to BB-, citing removal of capital controls and strong budgetary performance.

Source: Famagusta Gazette

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