April 20, 2018 / 8:12 PM / a month ago

BRIEF-Fitch Upgrades Cyprus To 'BB+' Outlook Positive

April 20 (Reuters) - Fitch:

* FITCH UPGRADES CYPRUS TO ‘BB+’; OUTLOOK POSITIVE

* FITCH SAYS UPGRADE OF CYPRUS’S IDRS REFLECTS IMPROVED HIGH EXTERNAL FINANCING FLEXIBILITY SINCE COUNTRY EXITED MACROECONOMIC ADJUSTMENT PROGRAMME IN MARCH 2016

* FITCH SAYS, ON CYPRUS, HAS UPGRADED CYPRUS’S LONG-TERM FOREIGN-CURRENCY ISSUER DEFAULT RATING (IDR) TO ‘BB+’ FROM ‘BB’

* FITCH SAYS WEAKNESS OF THE BANKING SECTOR REMAINS A RISK TO PUBLIC FINANCES AND WEIGHS ON CYPRUS’S CREDIT PROFILE

* FITCH SAYS CYPRUS’S FISCAL PERFORMANCE HAS BENEFITED FROM VERY STRONG CYCLICAL ECONOMIC RECOVERY, PRUDENT FISCAL POLICY Source text for Eikon: (Reuters.Briefs@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below