Scope upgraded Cyprus's rating to 'A', outlook remains stable

Scope Ratings has upgraded the credit rating of Cyprus to 'A' from 'A-', citing sustained fiscal discipline and robust economic performance. The rating agency also maintained a stable outlook for the country's economy, reflecting balanced risks in the medium term. This upgrade highlights significant progress in reducing the public debt-to-GDP ratio and improving the banking sector's resilience. Additionally, strong growth prospects and prudent fiscal policies were key drivers behind this positive assessment by the European agency. The move positions Cyprus among higher-rated euro area economies, enhancing its attractiveness to international investors.