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BRIEF-S&P says Cyprus long-term ratings raised to 'BB+' from 'BB'
March 17, 2017 / 4:42 PM / 9 months ago

BRIEF-S&P says Cyprus long-term ratings raised to 'BB+' from 'BB'

March 17 (Reuters) - S&P Global Ratings:

* S&P revises Cyprus sovereign credit outlook down to stable from positive; current rating is BB+

* S&P says expect Cypriot economy will expand by about 2.7% this year and maintain average annual growth at just under 2.5% between 2018-2020

* S&P says stable outlook balances view of Cyprus’ fiscal, economic progress against unusually high levels of non-performing loans in its financial sector

* S&P says forecast investment activity to accelerate with foreign private-sector funding contributing to projects in the tourism, energy sectors

* S&P says “think that the sovereign’s budgetary position will on average show a small surplus over 2018-2020”

* S&P says raised its foreign and local currency long-term sovereign credit ratings on the republic of Cyprus to 'BB+' from 'BB' Source text: bit.ly/2nhQ0WB

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