Moody’s : Cyprus bond rating positive

The outlook on Cyprus’s Caa3 government bond rating has been changed to positive from negative by Moody’s.  The change was due to the stronger than expected fiscal and economic performance in 2013 of the Cypriot economy and the government’s consistent policy of meeting the conditions set by the Troika funding programme.

The government is committed to kick starting the economy of Cyprus and putting it on the right track to recovery as well as taking all the necessary measures to follow the strict conditions laid down by Troika.

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