25 September 2015
The rating agency S&P’s announced on Friday 25, September 2015 that following the removal of capital controls and taking into account the strong budgetary performance of the Republic, it is upgrading the long term rating of Cyprus from B+ to BB- . The rating is assigned a positive outlook implying that within the next 12 months the agency may well proceed to another upgrade.
On another important note, the rating agency is also revising upwards the GDP growth expectations for 2015 to 1.5%.