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Fitch Ratings has affirmed Cyprus`s Long-Term Foreign-Currency Issuer Default Rating (IDR) at `BBB-` with a Stable Outlook.In a press release Fitch says that Cyprus`s rating balances its institutional strength reflected in per capita GDP and governance indicators in line with the `A` median rather than `BBB` and a track record of robust economic recovery and sound fiscal policy prior to the COVID-19 shock with balance sheet weaknesses, in particular, further increase in the high public debt and declining, but still …
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