SYDNEY Jan 17 Ratings agency Standard & Poor's
has revised its sovereign credit outlook on Portugal to negative
from creditwatch negative and affirmed its current rating of
S&P said the move reflects its expectation that Portugal
should achieve its fiscal targets of 5.5 percent GDP in 2013 and
approach its 4.0 percent target in 2014.
"We base this expectation partly on indications that the
economy has been showing signs of stabilization since mid-2013,"
S&P said in a statement.
"Stronger-than-expected export performance, and an expected
bottoming out of private consumption, amid a modest decline in
unemployment should support Portugal's fiscal performance in