Kathimerini English - - Focus -

Moody’s rat­ing agency an­nounced late on Friday that it has up­graded the gov­ern­ment bond rat­ings of Cyprus to ‘BA3’, while main­tain­ing a pos­i­tive out­look on the is­land’s rat­ing as im­prove­ments in eco­nomic re­silience, con­tin­u­ing fis­cal out­per­for­mance are likely to be sus­tained, it noted. Moody’s also stated that Cyprus’s long-term coun­try ceil­ings have been raised, to re­flect con­tin­u­ing im­prove­ments in eco­nomic re­silience and fis­cal out­per­for­mance. Friday. Eight con­sor­tia, in­clud­ing Ger­man giant Siemens, En­er­con and Den­mark’s Ves­tas, par­tic­i­pated in the pro­ject’s ten­der last Thursday, an of­fi­cial from the en­ergy min­istry told Reuters. The pro­ject will in­volve the con­struc­tion of a 1,000megawatt power plant and wind tur­bines, which will in­crease Turkey’s wind en­ergy pro­duc­tion by 17 per­cent.

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