LISBON, Aug. 29 (Xinhua) -- U.S.-based rating agency Standard & Poor's (S&P) on Friday upgraded Portugal's sovereign credit rating to A+ with a stable outlook. This follows the agency's February 28 decision to raise the rating from A- to A with a positive outlook, paving the way for another upward revision.
In its statement, S&P expressed confidence that the Portuguese government will be able to implement policies in a relatively smooth manner, maintaining fiscal discipline despite a fragmented parliament. Even with higher defense spending, the agency expects public debt to continue declining, albeit at a slower pace, reaching around 84 percent of GDP by 2028.
