Portugal’s Rating Downgraded to Junk Bond Status
Agency cites poor economic prospects, high levels of debt With the storm still raging in the euro-zone sovereign debt market, Fitch on Thursday said it had cut Portugal’s rating to junk status, citing the country’s deficit, heavy debt burden and poor economic prospects. Fitch downgraded Portugal’s long-term sovereign rating to BB+ from BBB-, More...
Portugal Strikes Over Excessive Cuts
Portuguese workers are staging the first general strike in decades ahead of Friday’s parliamentary vote on the crisis budget. Just recently Portugal has found itself in a tight spot. This news comes as road, More...