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S&P raises Cyprus rating outlook to stable from negative

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S&P raises Cyprus rating outlook to stable from negative

Postby kurupetos » Thu Apr 11, 2013 12:57 am

Standard & Poor's Ratings Services on Wednesday raised its outlook on Cyprus to stable from negative, saying it expects the troubled government to agree to the terms of a bailout, averting any immediate risk of a sovereign default.

Cyprus, one of the euro zone's smallest economies, has been forced to wind down one of its largest banks and slap losses on uninsured deposits in a second in order to qualify for a 10 billion euro lifeline from the European Union and the International Monetary Fund.

S&P rates the island CCC. It said it would likely lower the rating if, contrary to its expectations, the Cypriot government rejected the bailout terms. It would consider raising the rating if the economy were to stabilize sooner and at higher levels.



http://www.reuters.com/article/2013/04/10/us-cyprus-rating-sandp-idUSBRE9390TF20130410
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kurupetos
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Re: S&P raises Cyprus rating outlook to stable from negative

Postby Lordo » Thu Apr 11, 2013 12:59 am

come out of euro and see what happens then.
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Re: S&P raises Cyprus rating outlook to stable from negative

Postby kurupetos » Thu Apr 11, 2013 1:00 am

Lordo wrote:come out of euro and see what happens then.

Did I spoil your midnight party ol'boy? 8) :lol:
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