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 of public debt, which fell to 55.4 per cent of the island’s gross domestic
