Portugal bailout possible as S&P delivers credit rating cut

[alp227]

Source: The Guardian

Portugal's financial woes deepened on Tuesday as its borrowing costs rose to record levels after the ratings agency Standard & Poor's (S&P) cut its rating to the brink of "junk" status.

Gary Jenkins, head of fixed income research at brokers Evolution, said the cut in the rating to BBB- "raised the probability" that the country would be forced to accept a bailout.

"This is one false step from being junked," said Jenkins. "It's very unlikely the market will be prepared to fund Portugal anytime soon."

Portugal has a debt repayment due on 15 April and another in June. But the price the market is likely to demand from Portugal to raise fresh funds is expected to be too high for the country to finance itself without external assistance.

Read more: http://www.guardian.co.uk/business/2011/mar/29/portugal-bailout-possible-standard-poors-rating-cut

[xchrom]

1. dear portugal: DON'T TAKE THAT BAIL OUT! thank you, xchrom. nt

[Corruption Winz]

2. While bailouts seeeeeem nice...

They are actually awful. Shocking, I know.

It's better to die in debt then to owe your life to these scumbags.