Moody's says very likely to downgrade Portugal |
Reuters - May 5, 2010 |
Moody's Investors Service put its credit rating for Portugal on a three-month review on Wednesday, and a senior Moody's analyst said that as a result a downgrade of the credit rating is now likely.
Moody's said it could downgrade Portugal's Aa2 ratings by one, or at most two, notches, citing "the recent deterioration of Portugal's public finances as well as the economy's long-term growth challenges," especially due to low competitiveness.
"We have sent a signal that it is possible, and I have to say, statistically, there is a very strong likelihood that if we put it on a review for downgrade then we follow through with a downgrade," Anthony Thomas, vice president at Moody's Sovereign Risk Group, told Reuters.
Read Full Article from Reuters
- Posted: 2010-05-05 11:42:44
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