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Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

  • 11 March 2020 Shortage of Housing Units for Rent and Some of our Suggestions that could solve the problem

    It has been realized in the market, that there is a large shortage of housing... read more

  • 5 March 2020 What we know so far about Brexit

    It is now a fact that the United Kingdom has left the European Union since... read more

  • 21 February 2020 One billion euro deal for Larnaca development

    The one billion euro deal with the investor for the one billion euro... read more

  • 18 February 2020 Cyprus as a top destination for headquartering

    The list of large companies that have chosen to relocate or part of their... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

  • 11 March 2020 Shortage of Housing Units for Rent and Some of our Suggestions that could solve the problem

    It has been realized in the market, that there is a large shortage of housing... read more

  • 5 March 2020 What we know so far about Brexit

    It is now a fact that the United Kingdom has left the European Union since... read more

  • 21 February 2020 One billion euro deal for Larnaca development

    The one billion euro deal with the investor for the one billion euro... read more

  • 18 February 2020 Cyprus as a top destination for headquartering

    The list of large companies that have chosen to relocate or part of their... read more

Fitch upgrades Cyprus

FITCH Ratings has upgraded Cyprus’ long-term foreign and local currency Issue Default Ratings (IDRs) by one notch to BB- from B+, the agency announced on Friday. In its press release Fitch said “The issue ratings on Cyprus’ senior unsecured foreign and local-currency bonds have also been upgraded to BB- from B+. The Outlooks on the long-term IDRs are positive. The Country Ceiling has been upgraded to BBB- from BB+ and the short-term foreign and local currency IDRs have been affirmed at B,” And that “Cyprus is continuing to make strong progress in its adjustment following the 2013 banking crisis.” Fitch projected GDP growth of 2.9% in 2016 (from 1.9% projected a year earlier) referring to the positive results of tourism and the drop recorded in unemployment. “For 2017-2018, GDP growth of around 2.5% will benefit from an expected increase in foreign direct investment,” it says. However, Fitch considers that banks remain weak and pose an on-going to economic stability due to the high level of non-performing exposures. The agency also reports that “The property sector remains illiquid but prices seem to be stabilising at around 30% below their 2008 peak.” Further reading Fitch Upgrades Cyprus to ‘BB-‘; Outlook Positive

Read more at: http://www.news.cyprus-property-buyers.com/2016/10/22/fitch-upgrades-cyprus-to-bb/id=00151742
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