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

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

Standard & 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.