LISBON: Moody's junk 'BA1' rating with a stable outlook for Portugal is appropriate and there is little upside for the rating at the moment, the agency's vice-president for sovereign ratings Kathrin Muehlbronner said on Wednesday.
"I don't see much upside potential at this point in time," Muehlbronner told Reuters, adding that "at the moment we feel quite comfortable with our stable outlook." She said that the rating was constrained by Portugal's low economic growth and high debt burden.
"We have expected that Portugal would struggle to grow much faster, but if growth weakens further that would be a negative," she said.
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