All data is delayed
See More

Moody's downgrades Portugal

Jul 05 2011 21:13

London - Ratings agency Moody's has downgraded Portugal's government debt, citing the growing risk the country will need a second rescue package and concerns it will not meet its debt reduction targets.

Moody's Investors Service cut its rating on Portugal's debt on Tuesday by one notch to Baa2 from Baa1.

It says that "a further downgrade could be triggered by a significant slippage in the execution of the government's fiscal consolidation program, a further downward revision of the country's economic growth prospects or an increased risk that further support requires private sector participation."

moody's  |  portugal


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote