Rating firm Fitch has downgraded Portugal’s sovereign paper to BB- from BBB-. This means the rating has moved into the “junk bond” category.
According to MarketWatch, Fitch said another cut was possible. ”The country’s large fiscal imbalances, high indebtedness across all sectors, and adverse macroeconomic outlook mean the sovereign’s credit profile is no longer consistent with an investment-grade rating,” Fitch reported
Douglas A. McIntyre
Douglas A. McIntyre
