London, 11 July 2014 -- Moody's Investors Service says that the problems detected at the parent company of Portugal'sBanco Espirito Santo (BES) and their likely impact on the wider banking system should not have a significant impact on the sovereign's credit metrics and the macroeconomic fundamentals of the country. These developments therefore do not affect Portugal's government bond rating of Ba2, which has been on review for possible upgrade since 9 May 2014.

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