Portugal's debt is now "junk".
Moody's has downgraded Portugal credit rating to "junk" status and thinks that Portugal will need a second bailout too.
Quote:
Moody’s Investors Service cut Portugal’s credit rating to below investment grade on concern the southern European country will need to follow Greece in seeking a second international bailout.
The long-term government bond ratings were lowered to Ba2, or junk, from Baa1, and the outlook is negative. Discussions to involve private investors in a new rescue plan for Greece make it more likely that the European Union will require the same pre-conditions in the case of Portugal, Moody’s said in a statement.
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Portugal Rating Cut on Possible Greek Follow - Bloomberg