Cyprus President Nicos Christodoulides is proud of Moody’s two-notch credit rating upgrade for the Republic of Cyprus, which now stands at A3 with a stable outlook. This marks the country’s return to the “A” investment category for the first time since the 2011 financial crisis. The Ministry of Finance attributes the upgrade to improved fiscal metrics and public debt stability. Moody’s highlights Cyprus’ significant reduction in public debt ratios and expects further decline, boosting debt sustainability. The agency also praises solid economic growth driven by high-productivity service sectors, corporate relocations, FDI, and reforms. They foresee minimal banking sector risks due to strengthened credit profiles of Cypriot banks. President Christodoulides hails the upgrade as a vote of confidence in government policies and the economy, emphasizing responsible fiscal policy, financial stability, and ongoing reforms. He believes the upgrade will attract quality foreign investment, create new jobs, and bolster economic growth and competitiveness. The President pledges to continue targeted social measures to improve the lives of Cypriot citizens and establish Cyprus as a reliable investment destination. The upgrade is seen as a collective effort and a positive outcome for the country.
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Cyprus Achieves ‘A’ Investment Category Rating for First Time in 13 Years Following Two-Notch Upgrade by Moody’s
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