Fitch upgrades Portugal to 'BBB'; outlook stable - Reuters

Fitch Ratings recently announced that it upgraded Portugal's long-term foreign-currency issuer default rating (IDR) to 'BBB' from 'BB+'.

Key highlights (via Reuters)

Portugal's debt trajectory is on a firm downward trend.

Portugal's gross general government debt is expected to decline by more than 3% of GDP this year.

Portugal's favourable debt dynamics driven by structural fiscal measures, recent recovery & substantial improvement in financing conditions.