US Moody's raises outlook of Cyprus| MENAFN.COM

Wednesday, 29 June 2022 12:30 GMT

US Moody's raises outlook of Cyprus

(MENAFN) The Moody's ratings agency has approved the island's Caa3 credit rating, raising its outlook for Cyprus to positive, according to Arab News

The strong raising of the outlook resulted from a higher-than-expected economic performance in 2013

Moody's said that the country's middle-range junk bond status was being confirmed because of "the persistent risks that remain to Cyprus's public finances and their sustainability over the medium term as a result of significant uncertainties to the prospects for the macroeconomy and banking sector.

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