S&P Affirms Cyprus’ Credit Ratings at BB-/B

15:07 - 21 Μαρτίου 2016

GoldNews
Standard and Poor’s (S&Ps) rating agency has affirmed Cyprus’ long and short-term sovereign credit ratings at BB-/B, with positive outlook, saying it expected the Cypriot economy to continue to grow at more than 2% in real terms over 2016-2019, while strengthening its budgetary position and reducing government debt.
 
The rating agency said that the financial sector`s high level of nonperforming loans (NPLs) remains the key concern for financial stability and economic performance.
“On March 18, 2016, Standard & Poor’s Ratings Services affirmed its long and short-term foreign and local currency sovereign credit ratings on the Republic of Cyprus at BB-/B. The outlook is positive” an announcement read.
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