Thursday, November 24, 2011

Portugal is junk

Portuguese countryside, according to Fitch
Not only has Portugal now junk status, but with a negative outlook.  This according to the rating agency Fitch, that downgraded Portugal today from BB+ to BBB-

Moody's is of course worse, giving Portugal this even lower status: "Non investment grade - speculative".  In other words they suggest not to invest in Portuguese papers, and if you do, you are certified mad and might as well go to a casino.

Only Greece and Serbia are worse off than Portugal according to Fitch.  The negative outlook means Portugal is in the competition to be number one of the worst.  I always thought if you have to go then at least with a bang.

I suggest parties all over the country instead of no good boring strikes.

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