Standard and Poor's revises Cyprus' outlook to positive

30 March 2015

Rating agency Standard and Poor`s (S&Ps) has revised the Cypriot economy`s outlook to positive from stable, maintaining the economy`s "B+/B" rating.

The agency cites the better than anticipated reduction in the country`s public debt and the less adverse economic growth, following the €10 billion economic adjustment programme Cyprus concluded with its international lenders in March 2013.

"The outlook revision reflects our view of the faster-than-expected reduction in Cypriot general government debt, supported by less adverse economic growth prospects than previously," S&Ps note.

Cyprus News Agency

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