Cyprus is hailing a two-notch upgrade by credit scores company Moody’s that has brought the east Mediterranean island country back into investment-grade area a years after a monetary crisis left the nation on the verge of personalbankruptcy
ByThe Associated Press
September 30, 2023, 5: 18 AM
NICOSIA, Cyprus — Cyprus on Saturday hailed a two-notch upgrade by credit rankings company Moody’s to bring the east Mediterranean island country back into investment-grade area a years after a monetary crisis left the nation on the edge of personalbankruptcy.
President Nikos Christodoulides stated he was “deeply pleased” with the upgrade that he stated was the conclusion of years of financial discipline and will equate into drawingin quality foreign financialinvestment and producing brand-new tasks.
“We unwaveringly continue on this course as a federalgovernment … and so we will bring on with our governance,” Christodoulides stated in a composed message. “We will bring on strengthening our economy and broadening its vibrant course.”
Moody’s stated in its declaration the upgrade from Ba1 to Baa2 with a concurrent modification in outlook from favorable to stab