Portugal Upgraded to A- by Fitch on Declining Debt Ratio
- Fitch last had Portugal’s rating in the A range 12 years ago
- Bank of Portugal forecasts GDP growth of 2.7% for 2023
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Portugal’s government bond rating was raised one level by Fitch Ratings, which said the country’s debt ratio is on a “sharp downward trend.”
The rating was raised to A- from BBB+, with a stable outlook, Fitch said in a statement on Friday. It’s the first time Portugal has a rating in the A range from Fitch, Moody’s or Standard & Poor’s since 2011, the year the country received a bailout from the International Monetary Fund and the European Union.