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Rating. Moody’s concerned about ‘delays’ in PRR execution

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LightRocket via Getty Images

LightRocket via Getty Images

agency rating Moody’s is concerned about “delays” in Portugal’s implementation of the Recovery and Resilience Plan (PRR), a pan-European investment program launched in the midst of the Covid-19 pandemic. The agency issued a “credit opinion” in which, despite the fact that Portugal’s credit rating has not changed, it warns that there is a “negative risk” for rating depends on the degree of implementation of the PRR.

“Implementation of the PDP has been somewhat delayed this year,” Moody’s says, noting that “the delay appears to be related to work to set up the institutions that will drive the plan,” in addition to issues related to difficulties in global supply chains and labor shortage in the construction sector.

Moody’s scheduled a possible change for last Friday rating Portuguese, the appointment is made in accordance with European rules. But in the end, he did not take advantage of this opportunity and, a few days later, published a “credit opinion” that reflected the current prospects for the Portuguese economy.

Although not touched rating“authorities [o Governo] move forward with structural reforms that increase the growth potential of the Portuguese economy.

Source: Observador

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