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BREAKING NEWS

Portugal's credit grade lowered by one notch

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Portugal's credit grade lowered by one notch

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Portugal’s deteriorating public finances have led to the country’s credit grade being lowered by one step.

UK ratings firm Fitch says the outlook remains negative, meaning it is more likely to cut the grade further than to keep it unchanged or raise it.

The euro fell to fresh ten-month lows against the dollar on the back of the news.