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Portuguese unions stage general strike over cuts 
Troika checks Portugal’s progress 
Child labour warning to austerity-hit Portugal 
Portugal on thin rations 
Portugal’s pain as austerity bites Fitch Ratings has downgraded Portugal’s long term foreign and local currency bonds to BB+ from triple-B, from investment grade to junk. Short term, senior unsecured debt and commercial paper were also downgraded.
Fitch has also lowered growth forecasts for 2012, when it now expects GDP to contract by three percent.
Rival raters Standard and Poor still give Portugal investment status, while Moody’s thinks the country is in an even worse state, rating it Ba2.
More about: Credit rating agency, Debt rating, Portugal, Portugal’s debtCopyright © 2012 euronews
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