Cyprus received its first payment under SAFE

Markets:

Athens International Airport announced that it has been assigned long-term credit ratings of Baa1 by Moody’s and BBB+ by S&P Global Ratings for the first time. These ratings place Athens International Airport at investment-grade level.
Source: Athens Euronext

Macro/Political:

Cyprus yesterday received its first payment of EUR 177.2 mn under the Security Action for Europe (SAFE) defence financing instrument, representing 15% of its total allocation of EUR 1.2 bn.
Source: European Commission

Thanos Michaelides, Chairman of PASYXE (Cyprus Hotel Association), said that Cyprus hotels recorded an improvement in June compared with the previous challenging months, although performance remains below the levels typically expected for this time of year. He noted that conditions vary across districts, with average hotel occupancy standing at around 60% in Famagusta District and approximately 70% in Paphos. He added that, under normal circumstances, occupancy rates during this period would be closer to 90%. Michaelides also noted that Limassol is in a relatively stronger position, as it benefits not only from leisure travel but also from business tourism.
Source: Cyprus Mail

Minister of Finance Makis Keravnos, speaking yesterday at an event organized by the Association of Chartered Accountants in Cyprus, highlighted that the Cypriot economy has demonstrated stable growth over the past three years, with GDP growth reaching 3.8% in 2025. Furthermore, Keravnos noted that Cyprus has recorded one of the largest reductions in public debt in Europe, with the debt-to-GDP ratio expected to decline to approximately 50% by the end of 2026.
Source: StockWatch