Positive outlook bodes well for Portuguese covered bonds

Portugal Flag 230x150
By Bill Thornhill
12 Aug 2019

A ratings boost for Portugal could alert the country's covered bond issuers to the chance to print more, with the asset class at historically tight spreads.

Moody's put the country's Baa3 rating on positive outlook last Friday as Portugal has emerged as one of Europe's rare economic bright spots.

In contrast to Germany, the UK and Italy, whose economies look to have contracted in the second quarter, Portugal is likely to register GDP growth of ...

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