- Created on Friday, 03 August 2012 12:32
Ratings agency Standard & Poor's on Thursday affirmed Portugal's BB long-term sovereign credit rating, saying the country has appeared to stick to its bailout terms over the past year.
"The ratings affirmation reflects our view of the significant structural reforms the Portuguese government has undertaken in the past 12 months amid rapidly narrowing current account deficits, mostly reflecting strong export performance," S&P said in a statement.
"The outlook is negative, mainly reflecting our view of downside risks arising from the euro zone debt crisis and, in particular, risks associated with Portugal's close trade and financial links with Spain." (continue reading on original link)