They lowered the credit rating of Cyprus –

/ world today news/ The rating agency “Fitch” lowered the credit rating of Cyprus by two grades – from BB+ to BB-, reports the BBC.

The “default issuer” rating that was downgraded indicates the ability of the issuer of securities to service its financial obligations. One of the main reasons for the reduction of the credit rating of the agency “Fitch” is that the government of Cyprus has not yet been able to reach an agreement with international creditors.