Fitch upgrades Cyprus credit rating to A

On November 6, 2026, the credit rating agency Fitch Ratings upgraded the long-term issuer default rating (IDR) of the Republic of Cyprus from 'A-' to 'A', while maintaining a stable outlook. This decision reflects international confidence in the macroeconomic stability and fiscal policy of the Cypriot government.

Finance Minister Makis Keravnos welcomed the upgrade, describing it as a strong vote of confidence in the national economy. According to the Minister, this shift is part of a series of consecutive upgrades that underscore the positive performance and future prospects of the country's economic trajectory. The rating action by Fitch serves as an official validation of the ongoing fiscal reforms and economic governance currently implemented by the administration.

This upgrade follows a period of sustained economic recovery and institutional strengthening within Cyprus. The government maintains that these consecutive positive rating actions are crucial for reducing borrowing costs and attracting foreign investment. No further immediate actions were announced, as the current outlook remains stable.