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Ratings agency Fitch upgrades Portugal's outlook to 'positive'

Published on Apr 11, 2014 2:10 PM

PARIS (AFP) - Ratings agency Fitch on Friday upgraded its outlook for Portugal to "positive" and maintained the country's credit rating at BB+.

Fitch justified its move by citing budgetary efforts agreed by Lisbon as well as the overall recovering economy of the country three years after its bailout.

"Portugal is making good progress in reducing its budget deficit," the ratings agency said in a statement.

The economy took a big step towards emerging from its debt bailout and regaining investor confidence late last month by beating its budget target by a wide margin.

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