S&P revises view for Portugal to positive

S&P said it revised the outlook on Portugal to positive from stable.

“The positive outlook reflects our view that Portugal’s ability to service its high stock of external liabilities continues to strengthen. Steps taken by the European Central Bank (ECB) since 2012 to ensure the singleness of monetary policy within the euro area, and to eliminate the risk of an external refinancing shock, have supported Portugal’s export-led recovery,” said S&P in a news release.

At the same time, the agency affirmed its BBB long-term unsolicited sovereign credit rating for Portugal.

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