Credit Rating Report

Parpública – Participações Públicas (SGPS), S.A.: Rating Report

Other Government Related Entities

Summary

DBRS Ratings Limited upgraded Parpública – Participações Públicas (SGPS - Sociedade Gestora de Participações Sociais), S.A’s Long-Term – Issuer Rating to BBB from BBB (low) and maintained the Stable trend. DBRS has also upgraded Parpública’s Short-Term – Issuer Rating at R-2 (high) and maintained the Stable trend.

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