Fitch uprates Portugal's sovereign rating to A+ with stable outlook
Fitch Ratings has upgraded Portugal's sovereign debt rating from 'A' to 'A+' citing stronger public finances and projected debt reductions. Other agencies like S&P and DBRS have also affirmed positive ratings for the nation.
Ratings agency Fitch has officially upgraded Portugal's sovereign debt rating from 'A' to 'A+', assigning it a 'stable outlook'. The announcement was published on the agency's website this Friday. This decision follows similar actions by other major agencies, including Standard & Poor's and Morningstar DBRS, which recently confirmed positive ratings for the Republic of Portugal. According to Fitch, the move stems from improved public finances, specifically a projected decline in debt levels and budget balances that are stronger than those of comparable nations. The agency highlights a strong political commitment to fiscal prudence as a key underpinning for this progress. While the Portuguese government notes that all financial ratings agencies currently assign Portugal an 'A' rating, Fitch's upgrade represents the first significant change in its recent history, signaling growing investor confidence.
