As TV news stations still question the likelihood of Portugal needing a second bailout, ratings agency Moody’s has raised hopes on financial markets by reviewing the country’s chances from “negative” to “stable”.
Reasons given for the thumbs-up include the “improvement of the budget situation”, “the progressive de-fogging of economic perspectives” and the “reduced risks of restructuring of the debt”.
The agency comments that it is hopeful Portugal will succeed in getting a line of credit from the European Mechanism for Stability, “if necessary”, to help the country’s access to markets.
