DBRS Ratings Limited (DBRS) has confirmed Cyprus’ Long-Term ratings at BB (low) and changed the trend to positive from stable, according to a recent announcement.
DBRS has also confirmed the Short-Term Ratings at R-4 and maintained the stable trend.
According to the rating agency, the positive trend reflects DBRS’s view that Cyprus’ solid fiscal and economic performances are likely to be maintained, leading to the further decline in the government debt-to-GDP ratio.
Source: CNA
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