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S&P raises Portuguese rating outlook to stable

AFP
March 8, 2013, 12:34 am TWN

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LISBON--The international ratings agency Standard & Poor's raised on Thursday its outlook on Portuguese sovereign debt to stable from negative, owing to increased support from European institutions, but maintained the rating itself in speculative territory at “BB.”

The announcement came two days after eurozone finance ministers approved in principle an extension of the time allowed to Ireland and Portugal to pay back emergency aid extended by the European Union, International Monetary Fund and European Central Bank.

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