(ANSAmed) - ROME, NOVEMBER 24 - Fitch cut Portugal's rating
to "junk". The rating agency decided to lower its rating on
Lisbon to 'BB+' from 'BBB-' with a negative outlook. A statement
reports that the agency made this decision due to "tax
unbalances, high debt in all sectors and adverse financial
perspectives", making the country's profile not compatible with
an investment grade rating. Also due to general worsening of
Euroe's financial perspectives, Fitch has also cut Portugal's
growth forecasts and estimates that the country's GDP will
decrease by 3% in 2012. (ANSAmed).
Crisis: Portugal; Fitch cuts rating to 'junk'
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