The Fitch rating agency raised Portugal's rating from 'A' to 'A+' this Friday, with a stable outlook. This improvement comes after Fitch changed the outlook from stable to positive in the assessment of March 6, keeping the rating unchanged at that time. In September 2025, the agency had already raised Portugal's sovereign rating from 'A-' to 'A'.
In its latest detailed assessment, Fitch estimated that the Portuguese economy would grow 2% this year and slow to 1.8% in 2027, with consumption and investment as the main drivers. The agency also forecast a deficit of 0.8% of GDP, justifying it with spending related to storms and reconstruction.
At the end of August, Fitch highlighted Portugal, Greece, and Cyprus as a "lesson" for other European countries, emphasizing the positive evolution in controlling public finances and the strong reduction of debt since the sovereign debt crisis. In the same month, Standard & Poor's maintained Portugal's rating at 'A+' with a positive outlook.
The next assessments by the major agencies are scheduled for November, with DBRS on November 13 and Moody's on November 20, representing the last assessments of the year by the rating agencies.
