Standard & Poor’s Ratings Services has 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.
via Business feed http://www.scmp.com/business/economy/article/1212053/rating-agency-raises-cyprus-rating-outlook-stable-negative
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