Standard & Poor's raised its outlook on Portugal's sovereign rating from negative to stable. The agency explained that the change in the outlook reflects the improved economic and market conditions recorded by the country. The rating, however, was not changed, remaining at Bb, as widely expected by the market.
However, S&P analysts have positively assessed the performance recorded by Portugal in the context of the rescue program set up at an international level (from which Lisbon wants to exit by the end of May) and the faster than expected recovery of its economy and its labor market.
The Portuguese Treasury placed its first post-crisis three-year bond auction last month, with yields at an all-time low.
