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Portugal’s Rating Outlook Changed to Positive by Moody’s

  • Moody’s cites debt burden decline and healthier bank sector
  • Socialist government will face a general election in October

The outlook on Portugal’s government bond rating was changed to positive by Moody’s Investors Service on a continued decline in the government’s debt burden and sustained improvements in the banking sector.

The rating was affirmed and the outlook revised to positive from stable, Moody’s said in a statement on Friday. The New York-based credit rating company in October raised the rating to Baa3 as it restored the country to investment grade.