Downgraded to just above junk status


Standard and Poor’s credit rating agency has cut Spain’s sovereign credit rate to BBB- from BBB. The new rating is just above the so called junk status and the new rating was given with a negative outlook.

In their statement S&P said that “In our view, the capacity of Spain’s political institutions (both domestic and multilateral) to deal with the severe challenges posed by the current economic and financial crisis is declining.”

Tagged with:

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact