Moody's

Credit rating agency Moody's on Tuesday upgraded the Greek banking system from negative to stable and said the country's economy would return to growth this year after a six-year recession.

The Moody's ratings agency has raised its outlook for Cyprus to positive, while confirming the island's Caa3 credit rating.

Moody's, one of leading rating agencies, has reassessed the outlook of Cyprus to positive.

The agency cited an unexpected fiscal and economic performance over the past year as a reason, Deutsche Welle has reported.

Standard & Poor's affirmed Greece's sovereign credit rating on Friday and gave it a stable outlook, saying it believed the country's economy was gradually rebalancing.