FinMin expresses satisfaction over upgrade, warns against complacency

Finance Minister Harris Georgiades has expressed his satisfaction over the upgrade the Cypriot economy received yesterday from ratings agency Fitch but has warned against complacency.

“Upgrades satisfy us but should under no circumstances lead us to complacency,” Georgiades wrote in his account on twitter.

Fitch Ratings announced yesterday that it has upgraded Cypruss Long-term foreign and local currency Issue Default Ratings (IDRs) by one notch to BB- from B+ with a positive outlook.

Source: Cyprus News Agency.