Portuguese bonds reeled from their worst day since June on Friday, before a ratings review that will serve as a prelude for a more crucial test of the country's creditworthiness next month, according to a report by Reuters.
Standard and Poor's did not alter its junk rating for Portugal on Friday. But any warnings on its economy, such as those from Portugal's budget watchdog on Thursday, may feed fears that DBRS will remove the country's last investment-grade rating, which Lisbon needs to qualify for ECB bond purchases on Oct. 21.