During the European Session, Moody’s cut Portugal’s credit rating by two notches to A1 from AA2 but maintained a stable outlook. The ratings agency said that the indebted country may need to impose further austerity measures in conjunction to those already announced. The agency also cited the fiscal position of the EMU member as likely to deteriorate over the medium-term which could depress growth prospects. Meanwhile, Fitch’s Brian Coulton affirmed the “negative outlook” for Portugal, and went...