S&P revises Portugal outlook to positive

S&P said it changed its outlook for Portugal to positive from stable and affirmed the unsolicited BBB+ foreign- and local-currency ratings.

“The positive outlook reflects our view that Portugal's budgetary and external position will gradually improve, as a percentage of GDP and export receipts, supported by tourism and investments under large E.U. funds. Pragmatic and prudent policymaking will, in our view, underpin a steep decline in government debt,” the agency said in a press release.

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