Loading...
topic
HOME  /  NEWS  /  MOODY’S AFFIRMS CORPORATE CYPRUS’ SOVEREIGN RATING AT B1

News

Search News
Moody’s affirms corporate Cyprus’ sovereign rating at B1

Moody’s affirms corporate Cyprus’ sovereign rating at B1

Moody’s has affirmed Cyprus’ sovereign rating at B1, but changed the outlook to positive from stable. Key drivers for outlook’s change are: (i) improvements in economic resilience that have been observed over the past year; and (ii) Cyprus' consistent fiscal outperformance and favourable outlook which indicate a more rapid reversal in the public debt ratio than previously expected.

In particular, Moody’s noted that Cyprus’ strong and balanced economic recovery was supported by exports, domestic demand, and improving expectations of medium-term growth. Growth accelerated in 1H16, reaching 2.7% y-o-y, driven by an uptick in domestic demand and strong activity in the tourist and business service sectors.

Related News

We are delighted to announce that our firm has been recognised by IFLR1000 as one of the leading firms in Cyprus for 2022 in the financial and corporate sector.
We are looking to recruit a highly motivated and responsible individual with a positive approach, and excellent communication and interpersonal skills.
We are proud to announce that the latest edition of The Best Lawyers in Europe has recognised two lawyers of the firm in two practice areas: real estate and banking & finance.