Fitch Ratings has upgraded Cyprus’ credit rating to A from A-, and revised its outlook on the economy to stable from positive.
Finance Minister Makis Keravnos welcomed the move in a written statement, saying it follows a series of upgrades and reflects international rating agencies’ confidence in the Cypriot economy.
Keravnos credited the government’s prudent fiscal policy, which he said ensures stability and creates conditions for sustainable growth while leaving room to support households and businesses and to deal with unforeseen events.
