- The affirmation reflects the progress made under the IMF-EU programme to date, but rising political, implementation and macroeconomic risks warrant the maintenance of Negative Outlook.
- Cross-party commitment to its implementation and social cohesion are being tested by the 2013 budget, while institutional constraints could limit the governments room for manoeuvre.
- Institutional gridlock leading to policy paralysis would be negative for the rating.
Analysis details (17:28)
- Moody's have Portugal at Baa3, the highest rating of all three rating's agency, and S&P at the lowest, at BB. Both S&P and Fitch have Portugal rated as non-investment grade (junk).
12 Nov 2012 - 17:20 - - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: