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DBRS confirms Cyprus’s rating at BBB with a stable trend
CNA - Cyprus/ΝICOSIA 18/05/2019 11:16


Canadian rating agency DBRS confirmed Cyprus’s Long-Term Foreign and Local Currency at BBB (low) with a stable trend.
 
“The confirmation of the stable trend reflects DBRS’s view that while the Cypriot economy continues to perform robustly, more progress is needed to reduce risks to financial stability further”, said DBRS on Friday, adding that “risks to financial stability have declined but remain relatively high”.
 
DBRS said that the BBB (low) ratings “are supported by Cyprus’s solid budget position, its prudent public debt management framework, its Eurozone membership fostering sustainable macroeconomic policies, and its openness to investment encouraging a favourable business environment”.

(CNA)

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