Ronaldo stars. Madeira’s credit rating.

Another Ronaldo hat-trick breaks more records

RonaldoCristiano Ronaldo scored his 51st hat-trick last night in Portugal’s opening match of the World Cup in Russia. It was, by coincidence, the 51st hat-trick scored in the World Cup. In scoring his 82nd, 83rd and 84th career goals for Portugal he matched Puskas, who played for Hungary from 1945 to 1956, for the most international goals by a European player. At 33, Ronaldo also became the oldest player to score a hat trick in the World Cup.
He became just the fourth player to score in four different World Cups, joining, among others, Pele, and also became the first player to score in eight major tournaments in succession after hitting the target in each of the last four European Championships.
Ronaldo greatest ever footballerThe Telegraph comments that the Madeiran “wants his deeds to be seen by all and, to that end, the Fisht Stadium became the latest stop on Ronaldo’s mission to prove, once and for all, that he is the greatest footballer the planet has ever seen”. After winning and converting a penalty in the first few minutes their report adds: “A global audience was first introduced to his favourite trick in his repertoire – the step-over – as a spotty-faced teenager for Manchester United against Bolton Wanderers in 2003 and, 15 years on, defenders are still having a terrible time trying to prevent it making fools of them”.

Madeira’s debt rated “junk”, but improvements forecast

DBRS logowww.jornaldenegocios.pt report that the Canadian rating agency Dominion Bond Rating Service (DBRS) has added the Madeira Autonomous Region to its calendar of sovereign and sub-sovereign ratings, with the first assessment being released yesterday. DBRS attributes to the region’s long-term debt the note ‘BB’, which is the second level of the category of speculative investment, generally referred to as ‘junk’.
Madeira, which will be subject to two valuations this year by DBRS, is three levels below Portugal’s long-term sovereign debt rating, which was recently upgraded by one level. However, when considering the outlook for the evolution of the debt quality of the region of Madeira, DBRS considered it “stable”, due to the “slow reduction of debt, sustained by the improvement of economic indicators; financial supervision and support to the regional government by the Republic of Portugal”.

DBRS notes that the ‘BB’ rating is due to the very high levels of direct and indirect debt in the Madeira region. “This despite DBRS ‘expectation that debt indicators should continue to improve over the medium term, albeit at a slow pace,” the report adds. “The geographic location of the region as an archipelago in the Atlantic Ocean and the still great exposure of its government to regional companies” are the key challenges identified by DBRS regarding Madeira’s credit profile.

The story has been picked up by the press locally but none have included the last sentence above?

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