Moody’s has cut Portugal’s long-term debt rating by two steps, citing a weaker growth outlook, risks to the government’s deficit- reduction plans and a possible need to recapitalise its banks. The rating was downgraded to A3, four steps from so-called junk status, according to Moody’s, with the outlook on the grade “negative”. Portugal is trying to rein in the euro region’s fourth- biggest budget deficit and avoid the bailouts…
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on March 16, 2011. Filed under News.
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Posted by
on March 16, 2011. Filed under