Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Thursday, November 24, 2011

Fitch Cuts Portugal Rating To Junk Status

LISBON — Rating agency Fitch downgraded Portugal's rating to junk status on Thursday, citing large fiscal imbalances, high debts and the risks to its EU-mandated austerity program from a worsening economic outlook.

Fitch cut Portugal to BB+ from BBB-, which is still one notch higher than Moody's rating of Ba2. S&P still rates Portugal investment grade.

More

No comments: