Fitch maintains Portugal’s rating but says outlook could improve

The financial rating agency Fitch released its assessment of Portugal’s sovereign debt today (Friday, March 6).

Analysts interviewed by the business daily Negócios did not expect a change in the sovereign rating, but admitted that there is a possibility that the ‘outlook’ for Portugal’s bond quality could be upgraded.

Fitch’s last assessment of the Republic’s debt took place last September, when the agency decided to raise the sovereign rating to A, while also revising the outlook from positive to stable. In the first review of 2025, in March, it had opted for the “status quo”.

“After the increase in Portugal’s rating to A with a stable outlook, on September 12, 2025, the base scenario for Fitch’s next review is that it be maintained and, if the indicators continue to confirm a sustained improvement, a possible revision of the outlook to positive”, says Filipe Silva, investment director at Banco Carregosa.

Source: Negócios; Credits: Fitch Portugal