Moody's has kept its rating for Brisa at Baa3 (the first level above junk), but upgraded the outlook to positive, meaning the rating may be improved at the next review.

The agency said that as the Portuguese economy improves, Brisa’s earning should also improve because of higher numbers of vehicles on its motorways.

Moody's had earlier upgraded the rating of the Portuguese road and rail infrastructure company, Infraestruturas de Portugal, but kept its rating at Ba2 (a junk rating).