The Fitch Ratings agency today raised Portugal's 'rating' from 'A' to 'A+', assigning a stable outlook, according to a note published on the agency's website. This decision represents an improvement in the assessment of the country's creditworthiness.
Fitch indicated that the upward revision of Portugal's long-term default ratings reflects the strengthening of the country's public finances. This strengthening includes a projected trajectory of public debt reduction.
The agency also noted that Portugal's budget balances are considerably stronger than those of other countries, which contributed to the upgrade decision. The stable outlook suggests that Fitch anticipates a continuation of the positive trajectory of Portuguese public finances.
