Credit rating agencies

Türkiye will continue attracting large investments as the country becomes a hub of digitalization and innovation due to its economic policies and developments in technology, logistics, production, and more key areas for innovation.

Türkiye was the only country whose Fitch Ratings, Moody's, and S&P credit ratings increased this year.

Standard & Poor's (S&P) Global Ratings raised on Friday its long-term sovereign credit ratings on Cyprus to A- from BBB+. 

It also affirmed its short-term rating of A-2, adding that the outlook for Cyprus is "stable." 

"The stable outlook reflects the balanced risks to Cyprus' creditworthiness over the next 24 months," S&P said.

Fitch Ratings reaffirmed Greece's credit rating at BBB- with a stable outlook, maintaining the rating it had assigned six months ago.

In its announcement, Fitch noted that Greece's ratings reflect higher-than-average per capita income levels and governance indicators among BBB rated countries, along with a policy credibility due to EU and eurozone membership.

A two-notch upgrade of Cyprus' debt by Moody's is a vote of confidence in the island's economy, the country's president said on Saturday.

Cyprus is starting to see some positive shifts in its financial sector, particularly when it comes to tackling nonperforming loans (NPLs). This is an important issue for the country, as bad loans have weighed heavily on its economy in recent years. But this year, things are looking up, and it's a sign that Cyprus is making real progress.

Finance Minister Mehmet Şimşek has praised the credit rating upgrade from S&P as a testament to the success of the government's economic program.

WASHINGTON - Serbian First Deputy PM and Finance Minister Sinisa Mali said on Thursday he was optimistic about Serbia obtaining investment-grade ratings from both Fitch and Moody's by the end of next year after Standard & Poor's upgraded the country's rating to investment grade earlier this month.

Strong revenue growth, mainly stemming from social security contributions and corporate income tax, have been the main driver of Cyprus' strong fiscal outcomes, which have "improved markedly in recent years," international ratings agency Morningstar DBRS has said. 

WASHINGTON - The investment-grade rating obtained from Standard and Poor's marks a pivotal moment in Serbia's economic journey and will strengthen the country's borrowing capacity while lowering its borrowing costs, enabling it to finance essential infrastructure projects, says Serbian FM Marko Djuric.

US credit rating agency Standard & Poor's (S&P) reaffirmed Greece's investment-grade rating of BBB- with a "Positive" outlook on Friday night.

The next review of Greece's economy by S&P is expected in spring 2025, and the rating agency may well proceed to an upgrade then, given the "Positive" outlook it maintains for the country.