Moody's downgrades Portuguese debt to 'junk' status

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PORTUGAL - Moody's has downgraded Portuguese debt to 'junk' status on fears it will need a second bail out just months after it received €78bn ($112bn).

Portuguese long-term government bond ratings have been downgraded to Ba2 from Baa1, or ‘junk status' and Moody's assigned the country a ‘negative outlook'. The credit rating agency has moved aft...

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