Standard & Poor’s lowered the credit rating of Spain to BBB+ from A. The two notch downgrade is partially due to the risks associated with the government debt. In addition, Standard & Poor’s discusses concerns relating to budget projections and the banking sector. The ratings downgrade also mentions scenarios that could lower the ratings or improve the outlook.
To visit the Standard & Poor’s site, please click here:
http://www.standardandpoors.com/ratings/articles/en/us/?articleType=HTML&assetID=1245332673209
Jim Sutliff