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Portugal credit rating upgraded by Fitch to A+

Updated 3 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-05 16:16 UTC → 2026-09-07 06:50 UTC · added removed

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. 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. 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, noting it could help mitigate the impact of high interest rates for families and businesses. performance.

Versions

  1. 2026-09-07 06:50 UTC Portugal credit rating upgraded by Fitch to A+
  2. 2026-09-05 16:16 UTC Portugal credit rating upgraded by Fitch to A+
  3. 2026-09-05 12:46 UTC Portugal credit rating upgraded by Fitch to A+
  4. 2026-09-04 23:42 UTC Portugal credit rating upgrade

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