What is Portugal’s credit rating in 2025?

Valerie Charoux
May 17, 2025
1 min read

News Portuguese Economy – Here is Portugal’s credit rating in 2025 by the major credit rating agencies, namely Moody’s, DBRS, S&P, Fitch, Scope and Japan’s Credit Rating Agency JCR:

Portugal’s credit rating in 2025 by the major credit rating agencies:

1 – Moody’s

Moody’s confirmed Portugal’s existing credit rating of A3 on May 16th, 2025.

Moody's forecasts Portugal economic growth to be 2.2% in 2025 and 1.9% in 2026. For the period 2025-2026, Moody’s expects Portugal to have an average budget surplus of 0.3% of GDP and public debt is expected to reduce to 90% of GDP in 2026.

2 – DBRS

DBRS raised Portugal’s credit rating to A (high), with a stable outlook, on January 17th, 2025.

3 – S&P

S&P raised Portugal’s credit rating from A- to A, with a positive outlook, on February 28th, 2025. S%P also revised Portugal’s sovereign debt rating upwards.

4 – Fitch

Fitch maintained Portugal's credit rating unchanged at A-, with a positive outlook, in March 2025.

5 – Scope

Scope maintained Portugal's credit rating unchanged at 'A', with a stable outlook. Scope forecasts Portugal’s economic growth to be 2.1% in 2025 and 1.9% in 2026.

6 - Japan’s Credit Rating Agency JCR

Japan’s Credit Rating Agency JCR raised Portugal’s credit rating to A+, a “Stable” outlook, in February 2025.

Portugal’s new credit rating and economic outlook for 2025 is sparking appetite for public debt securities among Asian investors.