Scope Ratings Releases Its Latest Portugal Rating Report

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The Latitude Reaction to Scope Ratings’ Portugal Rating

Jon Green is our Portuguese Residency by Investment specialist. He believes that “every positive news item about Portugal investors read, the more convinced they become to establish residency there.” Green adds: “Residency by Investment (RBI) is a big decision that shouldn’t be taken lightly. But every individual story adds up, including Scope Ratings’ Portugal Rating.”

He proceeds: “March 2024 brought an A- rating from Fitch Ratings and Scope have followed suit with their Portuguese Republic Rating report.”

Affirming Portugal’s A- Ratings and Revising Outlook to Positive

In terms of both foreign and local currency, Scope Ratings deliver an A-/Positive rating/outlook for long-term issuer and senior unsecured debt. They use a range of rating rationale to generate these ratings. The first relates to Portugal being a key eurozone member.

This “provides access to a large and integrated market and contributes to the country’s resilience to global shocks.” Other factors explaining Portugal’s high rating include the way the Portuguese economy has consistently grown. They have also reduced external debt.

In 2023, “Portugal achieved a fiscal surplus of 1.2% of GDP.” Looking forward, Scope Ratings predicts a 1.9% growth rate for the Portuguese economy in 2024. This will increase to 2.2% in 2025.

For Scope, the outlook refers to the next 12-18 months.  The reason it’s positive relates to two developments. The first is that “general government debt continues its downward trend supported by strong budgetary performance” with the second being that “Portugal maintains current account surpluses and further improves its external position.”

Your Route to a Portuguese Golden Visa in 2024

If you find Scope Ratings’ assessment of Portugal’s rating encouraging, we suggest you take a step forward with your Portuguese Residency by Investment plans. You should get in touch with a seasoned company that has plenty of Residency by Investment expertise such as Latitude Group. So, don’t delay and contact us today.