Fitch revises Cyprus’ outlook to stable, affirms at BBB-

Click For Larger Image & Read More
Fitch revises Cyprus’ outlook to stable,...
 © In-Cyprus 2020
Fitch has revised Cyprus’ outlook to stable from positive to reflects the significant impact of the global COVID-19 pandemic on Cyprus’s economy and on the sovereign’s fiscal position. It also affirmed the BB- rating.

In a statement it said the recession, economic policy response to Covid-19 will result in a sizeable deterioration of cyprus’ budget balance this year and added that risks to Cyprus’ baseline forecast are tilted firmly to downside, as it assumes that Covid-19 can be contained in 2H20.

The ratings agency added that Cyprus’s demonstrated...


Read all latest: Cyprus Coronavirus News Updates - Live

This article was automatically added to our system 4-4-2020

Fitch revises Cyprus’ outlook to stable, affirms at BBB-


The contents of this article including any associated images are © In-Cyprus 2020
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

Advertise Here

  Trending Cyprus News

Advertise Here

Article Tags: fitch, revises, cyprus, outlook, stable, affirms,