Scope upgrades Cyprus’ credit rating to ‘A’

Berlin-based credit rating agency Scope on Saturday announced that it had upgraded Cyprus’ long-term credit rating from ‘A-’ to ‘A’. In justifying its decision, it cited a “significant reduction” of Cyprus’ public debt, “sustainable financial surpluses”, and “improved banking sector resilience”. It said that “strong fiscal performance and economic growth” had led to that reduction […]