Portugal climbs to A+ with Fitch, strongest rating in 15 years

Fitch upgrades Portugal’s sovereign rating from A to A+ with a stable outlook, praising stronger public finances, prudent policy and EU/euro-area backing; debt remains high but is projected to fall from 89.7% of GDP in 2025 to about 82.9% by 2028 (87.0% in 2026), supported by primary surpluses, while deficits are expected to average around 0.4% in 2027–2028. The upgrade should improve financing conditions and investment prospects, though housing affordability and demographic pressures remain risks.