DBRS changes Cyprus view

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

The agency also confirmed the short-term foreign and local currency issuer ratings at R-4 and maintained the stable trend.

DBRS said the change in trend reflects a view that Cyprus’s solid fiscal and economic performances are likely to be maintained, leading to the further decline in the government debt-to-GDP ratio.

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