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
