Europe News

S&P revises Portugal credit outlook to stable from negative

S&P raises Portugal's credit outlook

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.

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