Cyprus has received a credit rating upgrade from Morningstar DBRS , which raised the country’s long-term foreign and local currency issuer ratings from BBB (high) to A (low) , maintaining a positive outlook.
The agency also confirmed Cyprus’ short-term ratings at R-1 (low) with a stable trend.
According to Morningstar DBRS, this upgrade reflects the substantial reduction in public debt over recent years and the expectation that Cyprus’ debt indicators
