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Moody’s upgrades Portugal’s rating
Moody’s raised the rating of the republic to Baa2 on Friday. For three years, the rating agency did not change Portugal’s rating, which remained at the Baa3 level.
This was the last rating in the quality investment category and only one notch above the junk level.
It is the agency that assigns the country the lowest rating, but at the same time has the best prospects for the national economy. The agency confirmed this Friday that it has raised the rating by one notch.
As for the outlook, long-term credit quality development, it has been revised from positive to stable and is now equivalent to the point of view of other rating agencies adopted by the ECB to assess the eligibility of sovereign debt for its program. purchase of assets, namely Fitch, S&P and Canadian DBRS.
In a statement confirming the upgrade, the agency cites “expectation that Portugal will confirm improved long-term growth through the use of European Union NextGen funds (PRR) and structural reforms” and demonstrates “confidence in this. In the coming years, Portugal’s sovereign debt will begin to decline due to strong economic growth and increased efficiency of fiscal policy. ”
The Ministry of Finance has already considered that this is “a very positive and reliable sign for the country.” “Moody’s has not assigned such a high rating to the Portuguese state since 2011” and “this is also the first increase in the rating of the Portuguese Republic since the beginning of the pandemic, which is a very positive sign for the credibility of the country, as well as for security and financial resources. family and business stability ”.
“The reported improvement comes in the context of the crisis, after a year and a half of the pandemic, and sends a very strong signal about the economic and fiscal strategy adopted by the government so far, as well as confidence in the country’s ability to recover. from the pandemic crisis, ”says Finance Minister João Leau.
The minister also refers to the fact that “already in 2021 we expect to pay interest about 3 billion euros less than in 2015. This result is largely attributable to the rigor and fiscal responsibility of the past six years. It is important to continue this path, resuming the path of reducing the public debt-to-GDP ratio, which was only interrupted by the pandemic. I have ambitions that after Moody’s other agencies will raise the rating, improving the financing conditions for the republic, in order to reduce the country’s burden and increase the income of all Portuguese. “
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Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.
A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.
“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.
Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.
“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.
“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.
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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’
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Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.
According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”
In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.
The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.
In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.
From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.
Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.
“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.
“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.
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