Portugal, Greece Ratings Kept on Negative Outlook by S&P
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The debt ratings of Portugal and Greece remain at risk of being cut due to concern about how a European Union rescue fund may affect holders of the two nations’ sovereign bonds, Standard & Poor’s said.
The ratings company kept Portugal’s A- long-term, A2 short-term and Greece’s BB+ long-term ratings on creditwatch negative, according to statements released yesterday. It cited Portugal’s “high external financing need and limited funding sources.”