Bad loans prevent credit rating upgrade
© Business Mail | Bad loans prevent credit rating upgrade

Standard & Poor’s has affirmed Cyprus’s BB+ sovereign credit rating and kept its outlook on positive citing the risks the economy faces from the banks’ non-performing loans whose reduction is not “discernible”.
“Cyprus’ economic recovery continues unabated, allowing for a reduction in general government debt,” the rating company said in a statement on its website on Friday. “The impaired banking system still remains an important vulnerability, however….. Read More On: Business Mail

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