• 'Gordhan is trapped'

    Had Finance Minister Pravin Gordhan raised VAT, he would probably have been fired.

  • Budget analysis

    Gordhan’s budget was disappointing and even a bit depressing, says Jaco Leuvennink.

  • #Budget2017 survey

    Take our survey and let us know your post-Budget views!

All data is delayed
Loading...
See More

Moody's downgrades Portugal

Jul 05 2011 21:13
Sapa

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

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com 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
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

What do you want Finance Minister Pravin Gordhan to address during his budget speech?

Previous results · Suggest a vote

Loading...