Loading...
topic
ГЛАВНАЯ  /  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

On 28 November 2022, the Registrar of Cyprus Companies announced that access to the UBO Register of Cyprus for the general public is suspended as of 23 November 2022.
The new website of the International Academy of Financial Crime Litigators, of which Andreas Erotocritou is a Fellow, has just been launched.
We are delighted to announce that our firm has, once again, been recognised by IFLR1000 as one of the leading firms in Cyprus in the financial and corporate sector.