Credit Rating Report

Madeira, Autonomous Region of: Rating Report

Sub-Sovereign Governments

Summary

DBRS Ratings GmbH (DBRS Morningstar) confirmed the Long-Term Issuer Rating of the Autonomous Region of Madeira (Madeira) at BB (high) and the Short-Term Issuer Rating at R-4. The trends on all ratings have been changed to Positive from Stable.

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