International credit rating agency Fitch Ratings announced some changes about the credit ratings and economic outlooks of some countries. While they are decrementing the credit outlook of Italy, the corporation increased credit rating of Cyprus. Fitch Ratings made a written statement that include Italy’s credit rating is continued with BBB+ level as foreign and local currency, on the other hand, Fitch decremented economic outlook of Italy from "stable"to "negative". Decisions about Italy, political uncertainty and increased risk factors recorded. Economic growth forecasts decremented from 1% to 0,8% for 2016 and from 1,3% to 0,9% for 2017. Fitch also upgraded the level of credit rating for Cyprus from BB- to B+ level. Also, they announced the economic outlook of Cyprus will be positive in the near future. In a statement, the country pointed to a gradual recovery in 2013 after a banking crisis in the sector, supported by public financing, was transferred to employment and economic recovery. Finally, Fitch is predicting economic growth of 2.9% for this year, and the predictions will be about 2.5% growth yearly in the next two years on the market.
- Date: 24 October 2016 Mon 10:12
- Last Added
French Presidential elections are affecting the positive atmosphere on Euro
French Presidential elections are affecting the positive atmosphere on Euro...
Inflation rate is testing record levels in Turkey
Inflation rate is testing record levels in Turkey...
Non-farm payrolls data of the USA increased
Non-farm payrolls data of the USA increased...
Fed's politics interest decision gives direction to the global markets
Fed's politics interest decision gives direction to the global markets...
Oil market is trying to find a direction
Oil market is trying to find a direction at the last times....