# Portugal credit rating upgraded by Fitch to A+ > Live situation record from CLSTR: https://clstr.news/situations/portugal-credit-rating-upgrade > Updated: 2026-09-07T06:00:28.000Z. Sources: 28. Developments: 4. Fitch Ratings has upgraded Portugal’s long-term foreign currency sovereign credit rating from ‘A’ to ‘A+’ with a stable outlook. This marks the fourth rating improvement for the country over the last two years, bringing its credit standing to the same level as France and Belgium, and matching the ‘A+’ rating previously assigned by S&P. The agency attributed the decision to strengthening public finances, specifically a projected downward trajectory in public debt and robust fiscal balances that are considerably stronger than those of its peers. Fitch noted that Portugal’s governance indicators are superior to the median for the ‘A’ category, supported by its institutional role within the European Union and the eurozone. While high levels of public and external debt inherited from the past remain a factor, consistent fiscal performance and persistent current account surpluses have bolstered economic resilience. Projections suggest general government debt could fall to 87% of GDP in 2026 and 82.9% by 2028. Additionally, Fitch has revised its GDP growth forecasts upward, projecting an economic expansion of 2.1% this year and 1.9% in 2027 and 2028, driven by consumption and investment. While net trade may act as a slight drag due to high imports, the impact of earlier storms on overall growth is expected to be limited as reconstruction efforts compensate for losses. Portuguese officials have welcomed the move. Finance Minister Joaquim Miranda Sarmento described the upgrade as a victory demonstrating international investor confidence. President António José Seguro characterized the decision as ‘excellent news’ and a major recognition of the country’s long-term economic performance. ## Timeline ### 2026-09-07: Fitch upgrades Portugal's debt rating to A+ Fitch upgraded Portugal's sovereign debt rating from 'A' to 'A+' with a stable outlook, citing strong public finances and improved GDP growth forecasts. 6 sources. https://clstr.news/cluster/fitch-upgrades-portugals-debt-rating-to-a ### 2026-09-04: Portugal credit rating upgraded to A+ by Fitch Fitch Ratings has upgraded Portugal’s sovereign credit rating from ‘A’ to ‘A+’ with a stable outlook, citing strengthened public finances, debt reduction, and robust economic growth. 14 sources. https://clstr.news/cluster/fitch-upgrades-portugals-credit-rating-to-a ### 2026-08-22: Fitch affirms Malta’s A+ credit rating amid governance concerns Fitch Ratings affirmed Malta’s A+ credit rating with a stable outlook, citing strong growth but warning of deteriorating governance indicators and potential fiscal risks from energy subsidies. 6 sources. https://clstr.news/cluster/fitch-affirms-maltas-a-credit-rating-amid-governance-concerns ### 2026-08-21: Ireland credit rating upgraded to Aa2 by Moody's Moody's upgraded Ireland's long-term credit rating to Aa2 from Aa3, citing strong fiscal strength, effective debt reduction, and robust economic growth driven by foreign direct investment. 3 sources. https://clstr.news/cluster/ireland-credit-rating-upgraded-to-aa2-by-moodys --- Cite as: Portugal credit rating upgraded by Fitch to A+. CLSTR, https://clstr.news/situations/portugal-credit-rating-upgrade