Cyprus' credit rating raised to BBB+ by Fitch due to resilient economy and fiscal discipline.
Cyprus' credit rating has been raised by Fitch to BBB+ due to its resilient economy, fiscal discipline, and improved banking sector. The agency cites Cyprus' strong fiscal performance, falling household and corporate debt, and a commitment to maintaining financial order. The island nation's outlook is now considered positive, with public debt expected to fall to 70.6% of GDP this year and 65.1% in 2025.
June 08, 2024
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