Moody’s credit rating upgrade for Cyprus opens the door to investment, president says ...Middle East

NICOSIA, Cyprus (AP) — Moody’s two-notch upgrade of Cyprus’ credit rating to A3 from Baa2 opens the threshold to quality foreign investment that will generate new jobs, the president said Saturday. President Nikos Christodoulides said in a statement that the rating agency’s action reflects his government’s efforts at cementing Cyprus’ reputation as a credible investment destination through disciplined fiscal policy, banking sector stability and financial reform. Finance Minister Makis Keravnos said the upgrade marks the first time that Moody’s has elevated Cyprus back into the upper medium grade investment category since 2011, when a brewing financial crisis brought the country to the brink

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