Moody's: Reserve Invest view stable

Moody's Investors Service said it changed the outlook on the B3 long-term foreign-currency issuer rating of Reserve Invest Cyprus to stable from negative.

The outlook change is driven by an improvement in the company's liquidity, as reflected in the decrease in leverage to 0.2 times equity at year-end 2009 from 1 times for the first half of 2008, the agency said, attributing the improvement to the decrease in the company's risk appetite in the fourth quarter of 2008 when the shareholders provided financial assistance for the company in order to meet liquidity needs.

The outlook change is also the result of a more-established history of the company's performance under the less-benign operating environment, which enabled greater predictability of the response to new potential shocks, Moody's said.

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