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DBRS upgrades Portugal
DBRS said it upgraded Portugal’s long-term foreign and local currency issuer ratings to BBB from BBB (low) and its short-term foreign and local currency issuer ratings to R-2 (high) from R-2 (middle).
The trend is stable.
The agency said the upgrade reflects an assessment that Portugal’s outlook for public debt sustainability has improved.
“The improvement in Portugal’s public finances has become more durable, which is supporting the emerging downward trajectory in the public debt ratio,” DBRS said in a news release.
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