Fitch Upgrades Portugal to A+ on Debt Decline

Fitch Ratings upgraded Portugal’s long-term sovereign credit rating to A+ from A and maintained a stable outlook, citing stronger public finances, fiscal discipline and economic resilience. The agency expects government debt to decline from 89.7% of GDP in 2025 to 87% in 2026 and 82.9% by 2028, while growth is forecast to reach 2.1% in 2026. Portugal’s governance, EU and eurozone membership, repeated budget outperformance and current-account surpluses also supported the upgrade. Fitch cautioned that high public and external debt remain weaknesses and that rapidly rising house prices could increase housing-market vulnerabilities. President António José Seguro called the rating increase “excellent news,” saying it underscored the importance of stability, predictability and responsible governance.