Spanish Economy Returns To A Grade

SouthEuSummit – 05.04.2018

The recent upgrade of Spain’s credit rating by international ratings agency Standard & Poor’s to A- (from BBB+) marks an important move away from the Eurozone “periphery” towards the bloc’s better-rated countries like Belgium, France and Ireland. This group is often referred to as the “semi-core” in market jargon, whereas the “core” refers to AAA rated countries like Germany and Luxembourg.

S&P is the second agency to give the Spanish economy an A- rating, following an upgrade by Fitch to this same level in mid-January. The last of the three major rating agencies, Moody’s Investors Services, rates Spain at Baa2, two notches below that of S&P and Fitch. However, that might change on April 13th, when Moody’s will issue its updated decision on the country’s creditworthiness.

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