Government welcomes upgrading of Cypriot economy by S and P’s

The Government said on Saturday it was satisfied with the latest upgrade of the Cypriot economy by the ratings agency Standard and Poors.

Standard and Poors upgraded on Friday its assessment of Cyprus to BB.

In a press release the ratings agency said that it “has raised its foreign and local currency long-term sovereign credit ratings on the Republic of Cyprus to BB from BB-“.

Source: Cyprus News Agency.