Moody’s warns Portugal on possible downgrade

Author (Person)
Series Title
Series Details 22.12.10
Publication Date 22/12/2010
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Moody’s, the credit rating agency, warned on the 21 december 2010 that it may downgrade Portugal's government bonds because of concerns over the country’s ability to access debt markets, weak economic growth and the funding difficulties facing Portuguese banks.

The warning, which followed a similar action over Spain the previous week, will add to anxieties over the potential spread of the eurozone debt crisis, which many investors fear will force Portugal to follow Greece and Ireland in seeking a financial rescue by the European Union and International Monetary Fund.

Related Links
ESO: Background information: Portugal PM pushes to reassure investors http://www.europeansources.info/record/portugal-pm-pushes-to-reassure-investors/

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