OREANDA-NEWS. Expert RA Rating Agency (RAEX) upgraded Portugal sovereign rating to BB ("Sufficient level of creditworthiness") in foreign and national currencies. Credit environment rating of the country was also upgraded to BB+ ("Sufficient quality of credit environment) in foreign and national currencies. Previously the country had sovereign credit rating B+ ("Satisfactory level of creditworthiness") and credit environment rating BB- ("Sufficient quality of credit environment") in foreign and national currencies.

Sovereign credit rating and credit environment rating of Portugal are positively influenced by reserve status of the national currency (Euro), the EC membership, moderately high level of purchasing power parity GDP per capita.

The ratings were restrained by high level and further growth of debt burden and moderately high cost of state borrowings.

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