Portugal easily raises $3.2 billion in new debt

(AP)? LISBON, Portugal ? Portugal has easily raised euro2.5 billion ($3.2 billion) in a debt auction, just days after Standard & Poor's downgraded its credit rating to junk status.

Portugal is one of the eurozone's weakest members and is stuck in recession. It needed a euro78 billion bailout last year.

Portugal's government debt agency said interest rates were flat or lower in Wednesday's sale of 3-, 6- and 11-month Treasury bills amid strong demand.

It sold euro1.25 billion at a rate of almost 5 percent in the 11-month bills ? the longest-term debt it has sold since taking the bailout.

Source: http://feeds.cbsnews.com/~r/CBSNewsGamecore/~3/Aqtx6mrcC74/

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