September 15, 2017 / 9:29 PM / 3 months ago

BRIEF-‍S&P says raising sovereign credit ratings on Portugal to 'BBB-/A-3'; outlook stable​​

Sept 15 (Reuters) - S&P:

* S&P raises Portugal’s sovereign credit rating to BBB- from BB+; maintains outlook at stable

* S&P says ratings on Portugal raised to ‘BBB-/A-3’ on strong economic and budgetary performance; outlook stable

* ‍S&P says upgrade reflects improved forecast for Portugal’s GDP growth during 2017-2020, progress it made in reducing its budget deficit, among others

* S&P says believe that risks of marked deterioration in Portugal’s external financing conditions have receded‍​

* S&P says Portugal will continue its strong export performance in 2017-2020, absent external shocks

* ‍S&P says think the Portuguese banking sector will struggle to improve its profitability and efficiency​

* ‍S&P says raising sovereign credit ratings on Portugal to 'BBB-/A-3' from 'BB+/B' Source text: (bit.ly/2whzs6s)

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