Portugal Credit Rating trends, research and data
This page includes the government debt credit rating and outlook of Portugal as reported by the credit rating agencies of S&P, Moody’s and Fitch. Credit rating agencies are often slow to respond to rising risk conditions. Sign up free to monitor Portugal’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.
| Date | Rating | Outlook | Indicator |
|---|---|---|---|
| 08-09-23 | BBB+ (Positive) | Portugal Credit Rating (S&P) | |
| 28-10-22 | BBB+ (Stable) | Portugal Credit Rating (Fitch) | |
| 09-09-22 | BBB+ (Stable) | BBB+ | Portugal Credit Rating (S&P) |
| 17-09-21 | Baa2 (Stable) | Baa2 | Portugal Credit Rating (Moody's) |
| 22-05-20 | BBB | BBB | Portugal Credit Rating (Fitch) |
| 24-04-20 | (Stable) | Portugal Credit Rating (S&P) | |
| 17-04-20 | BBB | BBB | Portugal Credit Rating (Fitch) |
| 22-11-19 | BBB | BBB | Portugal Credit Rating (Fitch) |
| 13-09-19 | (Positive) | Portugal Credit Rating (S&P) | |
| 09-08-19 | Baa3 (Positive) | Baa3 | Portugal Credit Rating (Moody's) |
| 24-05-19 | BBB | BBB | Portugal Credit Rating (Fitch) |
| 15-03-19 | BBB (Stable) | BBB | Portugal Credit Rating (S&P) |
| 30-11-18 | BBB | BBB | Portugal Credit Rating (Fitch) |
| 12-10-18 | Baa3 (Stable) | Baa3 | Portugal Credit Rating (Moody's) |
| 14-09-18 | (Positive) | Portugal Credit Rating (S&P) | |
| 01-06-18 | BBB (Stable) | BBB | Portugal Credit Rating (Fitch) |
| 15-12-17 | BBB (Stable) | BBB | Portugal Credit Rating (Fitch) |
| 15-09-17 | BBB- (Stable) | BBB- | Portugal Credit Rating (S&P) |
| 01-09-17 | Ba1 (Positive) | Ba1 | Portugal Credit Rating (Moody's) |
| 16-06-17 | BB+ (Positive) | BB+ | Portugal Credit Rating (Fitch) |
| 03-02-17 | BB+ (Stable) | BB+ | Portugal Credit Rating (Fitch) |
| 19-08-16 | BB+ (Stable) | BB+ | Portugal Credit Rating (Fitch) |
| 22-07-16 | BB+ (Stable) | BB+ | Portugal Credit Rating (Fitch) |
| 04-03-16 | BB+ (Stable) | BB+ | Portugal Credit Rating (Fitch) |
| 25-09-15 | BB+ | BB+ | Portugal Credit Rating (Fitch) |
Portugal Credit Rating Analysis
The credit rating signal from each credit rating agency for the sovereign debt of the Portugal and it’s meaning is presented in the table below.
| S&P | Moody’s | Fitch | Analysis |
| AAA | Aaa | AAA | Prime |
| AA+ | Aa1 | AA+ | High grade |
| AA | Aa2 | AA | |
| AA- | Aa3 | AA- | |
| A+ | A1 | A+ | Upper medium grade |
| A | A2 | A | |
| A- | A3 | A- | |
| BBB+ | Baa1 | BBB+ | Lower medium grade |
| BBB | Baa2 | BBB | |
| BBB- | Baa3 | BBB- | |
| BB+ | Ba1 | BB+ | Non-investment grade speculative |
| BB | Ba2 | BB | |
| BB- | Ba3 | BB- | |
| B+ | B1 | B+ | Highly speculative |
| B | B2 | B | |
| B- | B3 | B- | |
| CCC+ | Caa1 | CCC | Extremely speculative |
| CCC | Caa2 | ||
| CCC- | Caa3 | In Default with small probability of recovery | |
| CC | Ca | ||
| C | C | ||
| D | / | DDD | In default |