Moody’s warns of second rescue for Portugal / Portugal hits back at Moody’s downgrade

Portugal could require a second, Greek-style bailout involving private investors, Moody’s ratings agency warned on the 5 July 2011 as it downgraded the struggling country to 'junk' on fears it would struggle to meet its current targets and would remain unable to borrow from the bond markets for some time.

ESO: Background information: Portugal faces more austerity as data fail to impress http://www.europeansources.info/record/portugal-faces-more-austerity-as-data-fail-to-impress/

BBC News, 5.7.11: Portugal's debt is downgraded to junk status by Moody's http://www.bbc.co.uk/news/business-14038529

ESO: Background information: Portugal reaches deal on €78bn bail-out http://www.europeansources.info/record/portugal-reaches-deal-on-e78bn-bail-out/

EUObserver, 6.7.11: Portugal debt given junk status amid 'formidable challenges' http://euobserver.com/9/32593

i, 6.7.11: Moody’s bins Portugal (Via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/759831-moody-s-bins-portugal

Website: Instituto de Gestão da Tesouraria e do Crédito Público (IGCP) http://www.igcp.pt/index.php

EUObserver, 7.7.11: Europe's central bank gives helping hand to Portugal http://euobserver.com/9/32602

El Pais, 6.7.11: Brussels and Lisbon lambaste Moody's for Portugal junk rating http://www.elpais.com/articulo/english/Brussels/and/Lisbon/lambaste/Moody/s/for/Portugal/junk/rating/elpepueng/20110706elpeng_9/Ten

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