Nicosia heralds Fitch upgrade

The upgrading of Cyprus’ long-term credit rating by one notch with a stable outlook citing outperformance of fiscal balance and growth rate, is an important development, said President Nikos Christodoulides. He credited


FITCH: Cyprus banks credit profile improving

The credit profiles of Cyprus’ two largest banks are improving due to significant progress with plans to offload non-performing exposures (NPEs), Fitch Ratings said. The agency expects the Bank of Cyprus (B-/Positive)

Fitch warns of Cyprus banks risk

Fitch rating agency reaffirmed Cypriot banks’ negative outlook noting the general environment poses threats to their balance sheets. In a report on the Cyprus banks, the agency notes that while they are


Fitch cites public debt, weak banking sector

Fitch rating agency affirmed Cyprus’ long-term sovereign rating at “BBB-” with a stable outlook, citing high sovereign debt and a weak banking sector as the main challenges facing the economy. It said