S&P Revises Portugal Rating to Stable

May 9, 2014 Share Print 0

Standard & Poor’s on Friday revised its outlook on Portugal to stable from negative and kept its credit rating at BB.

The outlook upgrade was expected by some analysts and came after Portugal on Sunday declared it would exit its three-year 78-billion-euro bailout this month without a precautionary credit line.

Last month, Lisbon sold its first bonds at auction in three years, paying a record low yield that was seen as vote of market confidence.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.