Moody’s has upgraded Bank of Cyprus’ longterm deposit ratings to Baa1 from Baa3, signaling enhanced solvency and depositor protection for the bank. This upgrade reflects a stronger financial position, a stable outlook, and a promising direction for growth in the financial market.
Fitch Ratings has revised Cyprus’ longterm outlook from stable to positive, indicating confidence in the country’s economic resilience, fiscal management, and improvements in the banking sector. The agency predicts a government budget surplus and increasing GDP, with a decrease in nonperforming loans contributing to financial stability, although regional geopolitical risks remain a concern.
