Cyprus Mail
Business

S&P upgrade

Ratings agency Standard & Poor’s on Wednesday upgraded the sovereign foreign credit rating on Cyprus to CCC-plus from selective default.

The move comes in the wake of the island’s1 billion euros debt exchange that is part of a financial adjustment program.

On June 28, S&P said that the exchange should help alleviate strains on the nation’s financial liquidity and that after completion it would put the rating back up to CCC-plus.

The outlook on the credit is stable, S&P said in a statement

 

Related Posts

New tax scheme approved for research and development

Kyriacos Nicolaou

Cyprus Business Now

Kyriacos Nicolaou

Slowdown of CCLEI’s positive yearly growth continued in April 2022

Source: Cyprus News Agency

Mountanaz (MNAZ), Convex Finance (CVX), UNUS SED LEO (LEO): 3 suggestions for investors

CM Guest Columnist

Sony readies for metaverse revolution with cross-platform push

Reuters News Service

EU unveils escape route from Russian fossil fuels by 2027

125 comments

Comments are closed.