Arab Today, arab today credit ratings of spain and cyprus raised
Last Updated : GMT 16:17:20
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Arab Today, arab today

Credit ratings of Spain and Cyprus raised

Arab Today, arab today

Arab Today, arab today Credit ratings of Spain and Cyprus raised

London - SPA

 The ratings agencies Standard & Poor's and Fitch on Friday gave better marks on the creditworthiness of troubled eurozone countries Spain and Cyprus, dpa reported.Fitch raised Spain's credit rating one notch from BBB to BBB+ on itseconomic recovery and an expected decrease in its debt. The agencypraised the reforms to the labor market, pension system and financialsector implemented by the government.S&P raised its rating on Cyprus also one notch from B- to B althoughthat rating kept Cyprus' debt in what is considered junk territory.S&P said the better note was because the island state was fulfillingthe demands of its international creditors.Fitch also raised its outlook for Italy from negative to stable.

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