DBRS rating agency upgrades Cyprus to BB (low) from B

DBRS rating agency has upgraded the Republic of Cyprus’s long-term foreign and local currency issuer ratings from B to BB (low) and changed the trend from Positive to Stable. It also confirmed the short-term foreign and local currency issuer ratings at R-4 and maintained the Stable trend. The ratings reflect Cyprus’ solid fiscal performance in recent years the agency says.

Source: Cyprus News Agency