Fitch Ratings commends the city of Porto for efficient management and increases Porto's risk rating to Investment Grade

Fitch Ratings marks up Porto's financial requirements in two levels. The city's good budgetary performance is one of the reasons why Porto is upgraded from "BB+" to "BBB". This rating puts Porto in the Investment Grade.

The city's accounts in 2016 are assessed positively, with the International Fitch Agency rating the municipality lead by Mayor Rui Moreira with an efficient management and a consistent budget performance, with an operating margin of 24 per cent, largely due to revenues.

 This good performance continued in 2017, as estimated by Fitch that highlights "robust" economic indicators.

Regarding the municipality's debt, the City has reduced debt to 33.3 million euros in 2016, from 80.1 million euros in 2015, which reached a historical low of 18% last year. The debt-ratio is expected to increase in 20 million euros in a sustainable way, owing to the financing of investment in infrastructure and urban regeneration.