Fitch upgrades Portugal, outlook improving for 2018

Portugal
By Sam Kerr, Tyler Davies
18 Dec 2017

Fitch Ratings upgraded Portugal's long-term currency issuer default rating on Friday, giving the country and its debt issuers a boost heading into the New Year.

The ratings upgrade was driven by the decline in gross general government debt which is expected to fall by three percentage points and below 127% of GDP this year.

This would be the first time that the ratio has fallen since the sovereign crisis, but the trend is expected ...

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