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BRIEF-Moody's says Portugal's economic recovery supports credit profile
May 19, 2017 / 6:07 AM / 7 months ago

BRIEF-Moody's says Portugal's economic recovery supports credit profile

May 19 (Reuters) -

* Moody‘s- Portugal’s economic recovery supports credit profile; challenges include high government debt

* Moody’s on Portugal- Rating with a stable outlook reflects credit strengths such as the country’s economic recovery and its stronger labour market

* Moody’s on Portugal- Debt-to-gdp ratio will gradually decline, a moderate nominal gdp growth, but will still remain around 125% of gdp in 2020

* Moody’s on Portugal- General government deficit will deteriorate slightly in 2018 to 2.0% of gdp

* Moody’s on Portugal- Expects economic recovery to continue, with an increase in GDP growth to 1.7% in 2017, before moderating to 1.4% in 2018

* Moody’s on Portugal- In banking sector, susceptibility to event risks for the sovereign remains material

* Moody's on Portugal- High-level of non-performing loans, especially in the corporate sector, remains a significant legacy issue in the banking system Source text :

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