• In two weeks, Portugal records the second upgrade in its rating

• Agency justifies this upgrade due to the continued cuts in public debt, budget balance, and the economy’s solid growth

• Fitch in line with the Government regarding forecast for this year’s execution and the economy’s growth above the Euro Area average

Fitch credit rating agency has just announced an upgrade in the Portuguese Republic’s rating from "A-" to "A" with a stable outlook. 

This is the second upgrade for Portugal in two weeks. At the end of August, Standard & Poor’s (S&P) upgraded its rating from "A" to "A+". 

This decision is yet another achievement for Portugal and the recognition of the work carried out by the Government, households, and companies to promote the economy’s growth, ensure balanced public accounts, and a sustained reduction in public debt. 

Fitch notes that Portugal is one of the countries that has most reduced its public debt among those checked, with a prudent budgetary policy, and solid growth.

The agency stresses that the country has recorded better budgetary performance than its peers and is aligned with the Government regarding a budget surplus for this year, whereas the average of the countries with an "A" rating show a 2.9% deficit. The reduction of foreign indebtedness and the forecast for the Portuguese economy with a growth above the Euro Area average in 2026 and 2027, are also positively noted by the credit rating agency. 

Since the rating is decisive in the way in which foreign investors view the country and for financing costs, this second upgrade is excellent news for Portugal and the Portuguese. 

The Government acknowledges the professional work that the staff and leaders of IGCP – the Treasury and Public Debt Management Agency conduct in managing the country’s public debt.