We revised our outlook to stable from negative and affirmed our 'BB/B' sovereign ratings on Portugal on March 6, 2013. We are consequently revising our outlook on Portuguese energy grid REN-Redes Energeticas Nacionais SGPS S.A. (REN) to stable from negative and affirming our 'BB+/B' ratings. The stable outlook mirrors that on Portugal. On March 18, 2013, Standard&Poor's Ratings Services revised its outlook on Portuguese gas and electricity grid operator REN-Redes Energeticas Nacionais SGPS S.A. (REN) to stable from negative. At the same time, we affirmed our 'BB+/B' long- and short-term corporate credit ratings on the utility. The rating action mirrors our similar action on Portugal (see "Portugal Outlook Revised To Stable On European Financial Support; 'BB/B' Ratings Affirmed,"
