Capital Intelligence has revised upwards the sovereign ratings for Cyprus due to a “faster than projected decline in general government debt due, consistent primary fiscal surpluses, as well as proactive debt management.”
President Nikos Christodoulides expressed satisfaction with the passage of a set of bills on foreclosures on Friday, underscoring a commitment to expedite proceedings addressing risks to the country’s economy from non-performing exposures.
The foreclosure row rumbles on as the latest episode in the saga played out when parliament voted against two non-government bills regarding the rights of borrowers defaulting on their mortgage. At the
Non-performing loans decreased by €105 mln at the end of March, compared to the end of December 2022, reaching €2.2 bln, according to the Central Bank of Cyprus. The ratio of NPLs
DBRS Morningstar assigned a BBB rating to a series of notes issued by PIMCO fund Capella Financing that has undertaken the majority of €1.4 bln worth of non-performing loans of Hellenic Bank
The International Monetary Fund (IMF) warned the government against increasing the Cost-of-Living Allowance while pointing to threats posed by a possible rise in Non-Performing Loans due to hiking interest rates. The IMF
Non-performing loans in the Cyprus banking system remained unchanged in November, with the NPL rate to total loans at 10.5%, according to the central bank. According to the latest data, total NPLs
Capital Intelligence Ratings has upgraded all Bank of Cyprus metrics by one notch, and maintained the outlook at ‘stable’, due mainly to improved asset quality – as measured by non-performing loans –
S&P Global Ratings raised its long-term issuer credit rating on Bank of Cyprus to BB- from B+, citing improvements in its asset quality and easing of economic risks. The upgrade of the
Cyprus and the EU are expediting the process to transform the state-owned Asset Management Company (KEDIPES) into a nationwide AMG to launch a mortgage-to-rent scheme. The scheme will cover non-performing loans collateralised
