The Prime Minister, António Costa, considered today that the increase in Portugal’s rating to level A by the three main financial rating agencies reflects a “clear sign” of confidence in the country’s economy.
“Since 2011, we haven’t had all the rating agencies give our debt an A rating. A clear sign of confidence in Portugal and in the future of our economy. This is how our security is reinforced”, wrote António Costa on his official account on the X network (formerly Twitter).
Costa’s message comes in reaction to Standard&Poor’s decision to raise Portugal’s rating from ‘BBB+’ to ‘A-‘, with a positive outlook.
Following this classification, Portugal returned, thirteen years later, to being among the ‘A’ levels of all the main agencies.
Standard&Poor’s (S&P) was the only one of the four main rating agencies that still assessed Portuguese sovereign debt between ‘B’ levels, but with today’s improvement it aligned its rating with Moody’s, Fitch and DBRS, which Portugal’s rating was raised last year.
The ‘rating’ is an assessment given by financial rating agencies, with a great impact on the financing of countries and companies, as it assesses credit risk. The ‘A’ level rating scales used by agencies differ, with some using ‘A-/A/A+’ and others ‘A1/A2/A3’.
Tags: Costa considers rise Portugals rating clear sign confidence economy
