By Maria Armental
Moody's Investors Service Inc. on Friday upgraded Portugal's credit rating by one notch to Ba1, citing the country's improved fiscal condition and an expected, continued gradual reduction in the country's very high public debt burden.
The outlook is stable, Moody's said. Ba1 is one notch below investment-grade territory.
"Moody's believes, however, that Portugal's credit metrics remain inconsistent with an investment-grade rating...