DBRS revises Cyprus trend to stable

DBRS said it confirmed the Republic of Cyprus’ long-term foreign- and local-currency issuer ratings at BBB (low) and changed the trend to stable from positive.

The change to stable reflects the improvements in the public debt trajectory, driven by sustained robust economic growth and large primary surpluses, will no longer be the case in the near term as a result of the global pandemic, DBRS said.

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