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(Image from article: "Fitch cuts Portugal rating to junk status")

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Fitch cuts Portugal rating to junk status

Rating agency Fitch downgraded Portugal's rating to junk status on Thursday, citing large fiscal imbalances, high debts and large fiscal imbalances.

Portugal faces rating cut, Spanish debt costs rise

Portugal was put on notice on Tuesday that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

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