Cyprus' economy receives boost after major ratings agencies upgrade status

NICOSIA, June 16 (Xinhua) -- As all three U.S. ratings agencies upgraded Cyprus' credit ratings, Cypriot President Nikos Christodoulides said Saturday that the country's economy has received a boost.

After Standard & Poor's (S&P) raised Cyprus' ratings to BBB+ from BBB and kept Cyprus' outlook positive on Friday, Christodoulides said this will contribute to economic growth by securing cheaper lending and will at