(The following statement was released by the rating agency)
LONDON, April 22 (Fitch) Fitch Ratings has affirmed Cyprus's
Long-term foreign
and local currency Issuer Default Ratings (IDRs) at 'B+'. The
Outlooks are
Positive. The issue ratings on Cyprus's senior unsecured foreign
and local
currency bonds have also been affirmed at 'B+'. The Country
Ceiling is affirmed
at 'BB+' and the Short-term foreign currency IDR at 'B'.
KEY RATING DRIVERS
Cyprus is undergoing a major financial sector, fis
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