Portugal CDS spreads widen 22% following downgrade to junk

Downgrade triggers spread widening across the eurozone, including 10% leaps for France and Germany

portugal flag

Yesterday's downgrade of Portuguese debt to Ba2 from Baa1 by Moody's Investors Service sent credit default swap (CDS) spreads on the heavily indebted sovereign skywards, from 767 basis points at close of play yesterday to 935bp at today's close – a jump of just over one-fifth – according to data provider Markit.

That was the trigger for a general widening of spreads for the other peripherals. Greece, rated Caa1, led the way, with spreads jumping from 1,916bp to 2,150bp at today's close. Irish

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here