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Dublin: 14°C Saturday 16 October 2021

Agency cuts Portugal's credit rating

RATING’S AGENCY Moody’s has cut Portugal’s rating by two spots to A1, Reuters reports. Moody’s says their outlook is stable, meaning no further rating change is expected for at least a year, but Portugal may need to introduce more austerity measures in 2011 to keep it that way. The euro fell to a one-week low against the dollar following the news.

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