S&P Cuts Spain’s Credit Rating Again; Near Junk
October 11th, 2012Via: Reuters:
Standard & Poor’s on Wednesday cut Spain’s sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government’s policy options to arrest the slide.
The S&P downgrade comes with a negative outlook reflecting the credit ratings agency’s view that there are significant risks to economic growth and budgetary performance, plus a lack of clear direction in euro zone policies.
“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,” S&P said in a statement.
Posted in Economy | Top Of Page
