trending Market Intelligence /marketintelligence/en/news-insights/trending/qj6nzhhdjuojhucm84ri-g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Moody's upgrades Portugal, changes outlook to stable

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Moody's upgrades Portugal, changes outlook to stable

Moody's upgraded Portugal's ratings and revised its outlook to stable from positive, citing the sustainable downward trend in the country's general government debt and increased economic resilience.

Among the ratings upgraded by the rating agency are Portugal's domestic and foreign long-term issuer, domestic and foreign senior unsecured and domestic senior unsecured MTN program ratings to Baa3/(P)Baa3 from Ba1/(P)Ba1, and the foreign commercial paper and domestic other short-term ratings to P-3/(P)P-3 from NP/(P)NP.

Portugal's general government debt-to-GDP ratio declined 4.5 percentage points to 124.7% in 2017. The debt watcher expects the debt burden to decline further to 116% of GDP by 2021.

Moody's added that the expected improvement in the capacity of the government's balance sheet to absorb shocks over the coming years is consistent with an investment-grade rating for the country.

Portugal's sustained investment spending and improving external position have increased the resilience of its economy, according to Moody's. The country's real GDP growth reached 2.8% in 2017, the highest in 17 years.

"[I]nvestment has made a sustained contribution since mid-2016, with evidence that the recovery extends beyond construction to include spending on machinery and equipment," Moody's said. "Furthermore, the job-rich recovery, benefiting in part from previous reforms to improve flexibility in the labor market, will help ensure a consistent contribution from consumption in the coming years."

Moody's said the outlook revision reflects a balance of risks at Portugal's Baa3 rating. "While a continuation of the [favorable] external conditions could support growth in excess of Moody's forecasts, the eventual moderation in growth prospects reflects ongoing structural constraints in the economy," the rating agency added.

DBRS, in its separate ratings action, affirmed Portugal's long-term foreign and local currency issuer ratings at BBB and short-term foreign and local currency issuer ratings at R-2 (high), with a stable outlook.