S&P upgrades Cyprus to one notch below investment grade

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S&P upgrades Cyprus to one notch below...
 © NapaOnline 2017
Standard and Poor’s upgraded their ratings of Cyprus’s economy from “BB” to “BB+” with a stable outlook, just one notch below investment grade, according to a document made available in Nicosia on Saturday.

An investment grade rating will have a big impact on the eastern Mediterranean island’s borrowing costs as it is faced with a high debt-to-GDP ratio, following its 10-billion-euro (10.8 billion U.S. dollars) bailout by the Eurogroup and the International Monetary Fund in 2013.

Standard and Poor’s said its assessment of Cyprus...


S&P upgrades Cyprus to one notch below investment grade


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