Morningstar DBRS Changes Trends on Republic of Portugal to Positive, Confirms Ratings at "A"

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  19-Jul-24	Long-Term Foreign Currency - Issuer Rating	A	Pos	Trend Change, Confirmed	EU U
  19-Jul-24	Long-Term Local Currency - Issuer Rating	A	Pos	Trend Change, Confirmed	EU U
  19-Jul-24	Short-Term Foreign Currency - Issuer Rating	R-1 (low)	Pos	Trend Change, Confirmed	EU U
  19-Jul-24	Short-Term Local Currency - Issuer Rating	R-1 (low)	Pos	Trend Change, Confirmed	EU U

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