Agency Standard & Poor's downgraded the credit ratings of Spain
Linkedin

Agency Standard & Poor's downgraded the credit ratings of Spain

Santander : Spain | Oct 13, 2011 at 6:10 PM PDT
XX XX
Views: Pending
 
What, If Anything, Does US Credit Downgrade Mean?

The international agency Standard & Poor's downgraded Spain's credit rating by one notch - to the level of AA-. This was said in a statement issued today by the agency.In assessing the country's credit rating Standard & Poor's took into account the curb credit growth, high unemployment and large loan debt of the private sector in Spain, according to ITAR-TASS reported.Perspective of the situation the agency called "negative." This means that in the future rating of Spain could be reduced again.In its assessment, Standard & Poor's upheld the decision of other agencies - Fitch, downgraded October 7 positions Spain at once on two levels - to the level of AA-.Prospective assessment of the situation in economics and finance of the country as viewed by Fitch as "negative."On Tuesday, both agencies announced a reduction of one or two stages of ranking a number of banks in Spain, including the largest Santander, BBVA.

1 of 25
Next
Agency Standard & Poor's downgraded the credit ratings of Spain
Agency Standard , Poor's downgraded the credit ratings of Spain
saadkhan is based in Karāchi, Sind, Pakistan, and is a Reporter on Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • S&P lowers Spain's debt rating a notch

      Sydney Morning Herald
    S&P said Spain's high unemployment, tighter financial conditions and "the likely economic slowdown in Spain's main trading partners" prompted the downgrade on Thursday. "The financial profile of the Spanish banking system will, in our opinion, weaken...
  • Fresh blow for Spain as S&P axes rating

      Sydney Morning Herald
    S&P cited Spain's high unemployment, tightening credit and high level of private-sector debt among the reasons for the downgrade of the nation's creditworthiness to AA- from AA. S&P and Fitch now rate Spain as AA- and both also have signalled further...
  • S&P lowers Spain's debt rating

      Sydney Morning Herald
    S&P said Spain's high unemployment, tighter financial conditions and "the likely economic slowdown in Spain's main trading partners" prompted the downgrade. Join the conversation You're the only person reading this now.
  • S&P downgrades Spain's debt rating on weak economy

      Merced Sun-Star
    Standard & Poor's has downgraded its long-term debt rating on Spain, citing the country's weak growth prospects and risks facing its banks. The rating agency said late Thursday that Spain's economy has shown signs of resilience this year. But S&P...
  • S&P�downgrades Spain's credit rating

      International Business Times
    Text Size Standard and Poor's downgraded Spain's credit rating by one notch to AA-, the fourth highest investment level according to S&P , with negative outlook on sluggish growth and high risks to financial institutions due to possible default to...
  • Standard and Poor's downgrades Spain rating

      Channel NewsAsia
    Standard and Poor's downgraded Spain's credit rating on Friday citing sky-high private debt, weak economic growth and towering unemployment. Importantly, the New York-based agency also predicted Spain would miss its targets to cut the public deficit...

Blogs

 >

Images

 >
 

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.