The financial rating agency Fitch raised Portugal's debt rating to 'A+', the fifth highest grade on its scale. This possibility had been anticipated by analysts after Fitch improved the outlook from 'stable' to 'positive' in the March assessment, which typically signals a likely rating change soon.
With this upgrade, Fitch matches the classification assigned by S&P, which had reaffirmed the Portuguese rating as 'A+' the previous week. Moody's remains below, with an 'A3' for Portuguese debt. DBRS and S&P continue to be the agencies with the most favorable view of Portuguese debt.
The last rating upgrade by Fitch occurred exactly one year ago, when the notation went from 'A-' to 'A', driven by the sustained reduction of the debt ratio and the growth of the national economy. By the end of the year, DBRS will deliver its verdict on November 13 and Moody's on the 20th of the same month, closing the evaluation cycle.
