CYPRUS – S&P sovereign review: outlook changed to positive

Banking, Country Profiles, Finance, Markets, News — By on September 18, 2017 at 4:41 PM

Regional Economics & Market Strategy Focus Note CYPRUS – S&P sovereign review: outlook changed to positive (Monday, September 18, 2017)

  • On September 15th , in line with expectations, S&P affirmed the long-term sovereign rating of Cyprus at BB+ but at the same time it changed the outlook from stable to positive. According to S&P, the positive outlook reflects that the agency could raise the ratings on Cyprus over the next 12 months if budgetary consolidation continues unabated, and the economy continues to recover toward pre-crisis output levels. The agency currently forecasts GDP growth to average 3% in 2017-2020, as investments and employment recover, and services exports continue to perform well.

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