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Portugal keeps investment grade rating and access to EU help

A customer passes under a Portuguese flag at a market in downtown Lisbon on January 15, 2014Portugal kept its much-needed access to EU financial help Friday after an European Central Bank-approved credit agency maintained its rating of Portuguese debt at investment grade level. Toronto-based DBRS announced it had kept Portugal’s rating at “BBB” level, with a “stable” perspective. “The rating reflects Portugal’s eurozone membership, favourable public debt maturity structure, and reduced vulnerabilities, following a substantial correction of the current account deficit over the past few years,” it said in a statement.

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