Our View: S&P upgrade a vote of confidence in Cyprus’ economy

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Our View: S&P upgrade a vote of confidence in...
 © CyprusMail 2018
FINANCE minister Harris Georgiades has every right to feel pleased Cyprus’ sovereign debt was upgraded to investment grade by Standard and Poor’s on Friday, after six years of junk status. The government had lost access to the markets in May 2011 when yields on its bonds rocketed and were eventually downgraded to junk status at the beginning of 2012, by Standard and Poor’s. By mid-2012 the other two rating agencies had done the same, forcing the Christofias government to apply for assistance to the EU.

There was a cautious return to the markets in 2014, although for the...


This article was automatically added to our system 18-9-2018

Our View: S&P upgrade a vote of confidence in Cyprus’ economy


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