Fitch: Cyprus upgrade to investment class

20 Oct 2018

Fitch's credit rating for Cyprus became the second after Standard and Poor's, which upgrades Cyprus to the investment class. The company upgraded yesterday the long-term creditworthiness of the Cypriot economy by one step in the BBB - by BB assigning a firm outlook.

In the rationale of the assessment, they rely on increased government revenues, which, combined with prudent fiscal policy, maintain high fiscal surpluses, strong economic growth, and declining public debt.