from the Cyprus Mail..
July 3, 2013
Ratings agency Standard & Poor’s on Wednesday upgraded the sovereign foreign credit rating on Cyprus to CCC-plus from selective default. The move comes in the wake of the island’s1 billion euros debt exchange that is part of a financial adjustment program. On June 28, S&P said that the exchange should help alleviate strains on the nation’s financial liquidity and that after completion it would put the rating back up to CCC-plus. The outlook on the credit is stable, S&P said in a statement.
Link to the article: http://cyprus-mail.com/2013/07/03/sp-upgrade/