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Rating Agency Moody’s has upgraded Cyprus’ long term credit rating by one notch to Ba1 assigning stable outlook, citing reduced exposure to event risks because of a decrease in banking sector risks, the resilience of the economy during the Covid pandemic as well as robust medium-term GDP growth prospects being supported by sizeable European funds. In a written statement, Finance Minister Constantinos Petrides welcomed the rating action as extremely important, stressing that it highlights “the sound followed policy which despite the …
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