S&P affirms Portugal sovereign rating at BB+; outlook Stable
The ratings on Portugal are supported by our view of export sector resilience, ongoing budgetary consolidation, a significantly improved government debt maturity profile, and an accommodative monetary stance, contributing among other things to maintaining government borrowing costs at sustainable levels. At the same time, the ratings remain constrained by high public and private sector indebtedness, fragility in the domestic banking sector, and a weak monetary transmission mechanism, all of which in our view hinder Portugal's economic growth potential in the medium-to-long run. - Source TradeTheNews.com