London, 22 November 2013 -- Moody's Investors Service, ("Moody's") has today upgraded the long-term debt rating of Parpublica-Participacoes Publicas (SGPS) SA (" Parpública") to Ba3 from B2. The outlook has been changed to stable from negative. Today's rating action reflects Moody's decision to align Parpública's debt issue rating with that of the Republic of Portugal (Ba3, stable).

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