More on Portugal; earlier news on the ousting of the Portuguese government
- Canadian ratings agency DBRS said it would consider recent political developments before its review of Portugal's credit rating this week,
- A downgrade could see the country kicked out of the ECB's bond buying programme.
- In order to qualify for quantitative easing (QE), the ECB demands that either Moody's, Standard & Poor's, Fitch or DBRS rate a country at investment grade, or that a country is compliant with a bailout.
- DBRS is the only one of the four to rank Portugal as investment grade, with a BBB (low) rating and a stable trend. A one-notch downgrade at its scheduled ratings review on Friday would send Portuguese debt into junk territory.
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I wonder if EUR has been bid up in Asia to sell in Europe?
