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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 22/Sep 10:23

Morningstar DBRS ups Cyprus trend to ‘positive’

Morningstar DBRS has confirmed the Cyprus long-term foreign and local currency – issuer ratings at BBB (high) and changed the trend on the long-term ratings from ‘stable’ to ‘positive’, mainly because it believes “public debt metrics are likely to continue to improve”. The rating agency also confirmed the Cyprus short-term foreign and local currency – issuer ratings at R-1 (low), maintaining the trend on all short-term ratings at ‘stable’. The rationale behind the trend improvement is that the general government debt-to-GDP ratio decreased from 99.3% in 2021 to 77.4% in 2023, while the European Commission forecasts general government debt to

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