In a report titled “2026 Greece And Cyprus Economic And Sovereign Rating Outlooks,” the ratings agency said the two economies continue to show favourable medium-term prospects, broadly converging with the rest of the euro zone.
Greece and Cyprus are expected to maintain solid growth momentum in 2026 despite persistent external vulnerabilities, credit rating agency S&P Global Ratings said on Wednesday.
In a report titled “2026 Greece And Cyprus Economic And Sovereign Rating Outlooks,” the ratings agency said the two economies continue to show favourable medium-term prospects, broadly converging with the rest of the euro zone.
“Our ratings on Greece and Cyprus are increasingly aligned with those of other euro area countries,” said Samuel Tilleray, associate director in sovereign ratings at S&P Global Ratings. He added that while growth prospects remain supportive, both countries continue to face structural weaknesses linked to external risks, including relatively high dependence on hydrocarbons.
For Greece, S&P Global reaffirmed its long-term sovereign credit rating at “BBB” and its short-term rating at “A-2,” assigning a stable outlook. The agency is scheduled to review Greece’s rating on April 24 and Oct. 23, 2026.
For Cyprus, S&P maintained a long-term rating of “A-” and a short-term rating of “A-2,” with a positive outlook, signalling the potential for an upgrade. Cyprus’s next rating reviews are set for March 20 and Sept. 18, 2026.
S&P highlighted strong GDP growth in both countries as a key positive factor, with expansion expected to exceed the euro zone average in the near term. Growth is being supported in part by funding from the European Union’s Recovery and Resilience Facility, the agency said.
The report also pointed to improving fiscal trends and significantly stronger debt buffers compared with five years ago, enhancing the two countries’ resilience to economic shocks.
However, the agency cautioned that external weak points remain, including exposure to energy price volatility and broader geopolitical risks, which continue to weigh on the long-term credit profile of both economies.
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