Fitch cuts Portugal's "rating" to "trash"!!! THE RALLY COLLAPSES IN EUROPE!!!

Fitch cuts Portugal's "rating" to "trash" The financial rating agency cut the "rating" of Portugal at one level, placing it on a level considered "junk". The prospects continue to be "negative".

Fitch "concluded its review of the fourth quarter of sovereign debt of Portugal. The large budgetary imbalances, the high indebtedness in all sectors and the adverse macroeconomic forecasts mean that the sovereign credit profile is no longer consistent with a rating of high quality investment ", reveals the Agency of information in a note published today.

Thus, Fitch decided to put the country's financial rating "BB +" from "BBB-". A descent of a level, but that puts the "rating" of Portugal in a level considered "junk", i.e. speculative investment.

[link to www.jornaldenegocios.pt]