Standard & Poor’s affirms Cyprus’ growth prospects, pointing out risks from coronavirus outbreak
Standard & Poor’s Global Ratings affirmed Friday its `BBB-/A-3` long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable outlook.
According to the report, the stable outlook incorporates Cyprus` robust growth prospects, improving public debt dynamics, and track record of running budgetary surpluses. It also takes into account Cyprus` high stocks of public and private debt and the inherent vulnerability of a small open economy, with an important tourism sector, to rising external shocks, including from the recent coronavirus outbreak.
(CNA)
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According to the report, the stable outlook incorporates Cyprus` robust growth prospects, improving public debt dynamics, and track record of running budgetary surpluses. It also takes into account Cyprus` high stocks of public and private debt and the inherent vulnerability of a small open economy, with an important tourism sector, to rising external shocks, including from the recent coronavirus outbreak.
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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