Arab Today, arab today moody\s raises cyprus outlook confirms rating
Last Updated : GMT 18:20:30
Arab Today, arab today
Arab Today, arab today

Moody\'s raises Cyprus outlook, confirms rating

Arab Today, arab today

Arab Today, arab today Moody\'s raises Cyprus outlook, confirms rating

Paris - AFP

The Moody's ratings agency has raised its outlook for Cyprus to positive, while confirming the island's Caa3 credit rating. The agency said on Friday it was raising the outlook to positive from negative because of a stronger than expected fiscal and economic performance in 2013 and because of the authorities' record of meeting conditions set by international creditors. But the country's middle-range junk bond status was being confirmed because of "the persistent risks that remain to Cyprus's public finances and their sustainability over the medium term as a result of significant uncertainties to the prospects for the macroeconomy and banking sector," Moody's said in a statement. Moody's downgraded Cyprus to Caa3 from B3 in January 2013. In all, it had downgraded Cyprus's rating nine notches in 10 months. After years of prosperity, Cyprus was hit by a financial earthquake more than a year ago, finding itself on the verge of bankruptcy because of the high exposure of its banks to Greek debt. It was granted a 10-billion-euro ($13.8-billion) international bailout in March 2013, almost half of which has now been paid out.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s raises cyprus outlook confirms rating Arab Today, arab today moody\s raises cyprus outlook confirms rating

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s raises cyprus outlook confirms rating Arab Today, arab today moody\s raises cyprus outlook confirms rating

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday