The Minister of Finance, Joaquim Miranda Sarmento, stated that the upgrade of Portugal’s rating by Fitch, announced this Friday, “confirms the solid path” taken by the country.
“The update of Portugal’s rating to A, the second in just two weeks, confirms the solid path we have pursued: balanced accounts, sustained debt reduction, and growth above the Eurozone average,” he wrote on social media platform X (formerly Twitter).
The financial rating agency Fitch has raised Portugal’s rating from A- to A, with a stable ‘outlook’, it announced in a statement.
Fitch cited several reasons for the upgrade, including the continuous reduction of debt, a balanced budget position, reduced deficits expected from 2026, increasing exports, and resilient growth.
Fitch’s upgrade of Portugal’s rating to A, the second in just two weeks, confirms the solid path we have pursued: balanced accounts, sustained debt reduction, and growth above the Eurozone average. https://t.co/SRxlrvFOYH
— Joaquim Miranda Sarmento (@JMirandSarmento) September 12, 2025
Fitch joins other credit agencies that have upgraded Portugal’s rating, such as DBRS, which rates sovereign debt at A (high) and Moody’s at A3.
S&P improved the rating from ‘A’ to ‘A+’, just six months after another upgrade.
