S&P upgrades Portugal’s debt rating

  • News Digest

Mar 17, 2019-

Global ratings agency S&P on Friday upgraded Portugal’s sovereign debt, citing the country’s declining level of indebtedness and expectations for “balanced” growth. The decision followed September’s upgrade to Portugal’s outlook as the once troubled European economy continues its recovery. In 2014, Portugal exited an international bailout programme that began at the height of the European Union debt crisis. S&P raised its rating to the lower-medium-grade “BBB,” with a stable outlook, up from “BBB-.” The agency said Portugal should continue to run budget surpluses, steadily reducing the ratio of debt to GDP, while posting growth of between 1.5 percent and 1.7 percent through 2021. (AFP)

Published: 17-03-2019 10:27

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