Moody's cited fears the country will have difficulty meeting its deficit reduction goals and underlining expectations the country will be forced to seek a bailout from the EU.
Uncertainty plagues the country after its minority government fell apart as it was attempting to win parliamentary support for a fourth round of austerity measures, setting up a June 5th general election.
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Moody's Investors Service delivered another blow to the credit rating of Portugal's government bonds, cutting its rating to Baa1 from A3, and putting the rating on review for a further possible cut.
