Moody’s upgrades Cyprus credit rating from Baa2 to A3, marking a significant milestone for the country after a financial crisis in 2011. The upgrade reflects improved fiscal metrics and public debt reduction. President Nicos Christodoulides expresses pride in the upgrade and expects it to attract foreign investment and create new jobs. Moody’s highlights Cyprus’ reduced debt ratio and forecasts continued improvement in public debt sustainability. The agency also notes solid economic growth driven by service sectors, FDI, and banking sector stability. The President views the upgrade as a vote of confidence in government policies and the economy, attributing the success to collective efforts. The upgrade is expected to open up new opportunities for investments and economic growth, enhancing competitiveness and improving the lives of citizens. Cyprus aims to establish itself as a reliable investment destination with this development.
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Cyprus Achieves Investment Category ‘A’ for First Time in over a Decade Following Moody’s Two-Notch Upgrade
