CI Ratings ups Cyprus outlook to ‘positive’
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Capital Intelligence Ratings affirmed late Friday the Republic of Cyprus long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at ‘BB+’ and ‘B’, respectively, revising the outlook for the ratings from ‘stable’ to ‘positive’ on strong recovery. CI Ratings said the revision of the outlook “reflects strong prospects of recovery from the adverse impact of Covid-19 with real GDP returning to solid growth, tourism recovering faster than expected, and the public finances set to improve.” It said that “the ratings are supported by declining refinancing risks in tandem with...
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