Cyprus’ credit rating upgraded to “Investment Grade”

The world known credit rating agency, Standards & Poor’s issued an announcement late in the evening on Friday, 14 September 2018, upgrading Cyprus’ credit rating to “Investment Grade”, `BBB-/A-3` from `BB+/B` with stable outlook, five years after the financial upheaval that Cyprus went through in 2013. According to S&P announcement, “The Cyprus Economy will continue to grow at a solid pace through 2021, our forecast horizon, enabling the government to alleviate its debt burden.”

The Cyprus Shipping Chamber welcomes with satisfaction this very positive development, which is a result of long-standing efforts and sound economic management of the Government and of the State, based always on the untiring and strenuous actions and sacrifices of the businesses and their employees, indicating the solid growth rates of the Cyprus Economy, thus strengthening further its international credibility.

This important upgrade, reflects positively on Cyprus Shipping as well, which along with the implementation of the Shipping Deputy Ministry’s maritime development strategy, together with the Shipping Industry’s efforts, can be further promoted and expanded in Europe and beyond, paving the way to an even brighter future.


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