German agency maintains Cyprus at BBB+ amidst stability

German credit rating agency Scope has completed its periodic review of the Cypriot economy, opting not to issue a rating action, citing no significant changes that would impact the assessment of the creditworthiness of the Republic of Cyprus.

The agency had initially noted that May 10 had been designated as one of the potential dates for the issuance of a rating action for this year.

In addition, the agency originally upgraded Cyprus’ credit rating to BBB+ with a stable outlook in November of 2023.