Portugal kept its much-needed access to EU financial help Friday after a European Central Bank-approved credit agency maintained its rating of Portuguese debt at investment grade level.
Toronto-based DBRS announced it had kept Portugal’s rating at “BBB” level, with a “stable” perspective.
“The rating reflects Portugal’s eurozone membership and its adherence to the EU economic governance framework, which helps foster credible macroeconomic policies,” it said in a statement.
“The centre-left minority government continues to demonstrate commitment to comply with the EU fiscal rules and important structural reforms are not expected to be reversed,” it added.
DBRS’s decision was much anticipated as it is the only one of the four agenci…
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