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Fitch Rates Portugal’s USD4.5bn 2024 bond ’BB+’

Fitch Ratings has assigned the Republic of Portugal’s USD4.5bn bond a ’BB+’ rating. The bond has a coupon of 5.125% and is due 15 October 2024.

KEY RATING DRIVERS

The rating of the bond is in line with Portugal’s Long-term foreign currency Issuer Default Rating (IDR), which has a Positive Outlook.

On 11 April 2014, Fitch affirmed Portugal’s Long-term foreign and local currency Issuer Default Rating (IDRs) at ’BB+’. The Outlooks on the Long-term IDRs were revised to Positive from Negative.

RATING SENSITIVITIES

The bond’s rating is sensitive to the same factors that might affect Portugal’s IDR.

Next Finance , July 2014

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