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DBRS comfortable with Portugal rating, but watching bond yields
February 12, 2016 / 3:08 PM / 2 years ago

DBRS comfortable with Portugal rating, but watching bond yields

LONDON, Feb 12 (Reuters) - Rating agency DBRS said on Friday it was comfortable with its credit rating for Portugal, though a recent rise in the country’s bond yields was a concern due to its heavy debt burden.

DBRS is the only of the four big rating firms to rank Portugal investment, at BBB(low) ‘stable’, something the country needs for its debt to be included in the European Central Bank’s 1.5 trillion euro bond-buying quantitative easing scheme.

It is due to review the rating on April. 29.

“As of today, we feel comfortable that our stable trend on Portugal is appropriate,” Fergus McCormick, head sovereign analyst at DBRS told Reuters.

“The recent rise in bond yields is a concern given the high refinancing burden” he added though. “If market volatility persists, our attention then turns to the political equation and what is feasible in terms of fiscal adjustment.” (Reporting by Marc Jones; Editing by John Geddie)

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