Advertisement 
Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations. However, Moody’s affirmed Cyprus’ long-term rating to Ba2, two notches below investment-grade, and remains the only rating agency to maintain Cyprus` rating to junk. “The primary driver of the positive outlook is that Cyprus`s bank-related exposure to event risk continues to decline,” Moody’s said, noting …
Advertisement
Advertisement
