Just two days ago, on December 21st, Moody's warned of similar ratings cut.
Portugal is considered one of the most financially challenged nations in the 16-nation eurozone. (Check out the latest on credit default swap pricing for Spain, Portugal, Ireland and Italy
on our sovereign CDS page
.) There are fears that it could need a bailout similar to those provided to Greece and Ireland. The government of Portugal, however, insists it does not need help.
Click here to read about the banks that are most exposed to the PIIG nation's sovereign debt.
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