European Central Bank

ECB starts buying Cypriot bonds after ratings upgrade


The European Central Bank said on Thursday it had restarted buying Cypriot bonds under its stimulus programme after an upgrade to the country's credit rating, and pledged to make up slowly for its 2-1/2-year exclusion from ECB buying.

"The Eurosystem purchases of Cypriot government bonds (today, with settlement in October 2018)," the ECB said in a statement.

EU authorities probe Henry Dunant tender

The tender for the sale of the Henry Dunant Hospital in Athens has come under the scrutiny of the European Central Bank's Single Supervisory Mechanism (SSM) and the European Commission's competition authorities (DG Comp), following government interventions aimed at seeing the Alexander S. Onassis Public Benefit Foundation (and therefore the state) being named the winning bidder.

Cypriot bonds upgraded to BBB-

Government bond yields in Cyprus fell to their lowest since late March on Monday, following a decision by S&P Global to lift the country's credit rating to investment grade territory.

S&P late on Friday lifted Cyprus's rating to BBB- from BB+, citing brighter growth prospects and consolidation in the banking sector.

Creditors say talks with gov't focused on fiscal situation, NPLs

The government and its creditors discussed the country's fiscal situation and outlook and the implementation of the strategy to reduce the banks' non-performing loans in their first meeting after the completion of Greece's rescue packages last August, the institutions said in a joint statement on Friday.