LONDON (Standard&Poor's) Nov. 21, 2011--Standard&Poor's Ratings Services said today that its sovereign credit ratings and outlook on the Kingdom of Spain (AA-/Negative/A-1+) are not affected by the outcome of yesterday's general elections. Provisional results indicate that the center-right Partido Popular (PP) party, led by Mariano Rajoy, has won an absolute majority and will be able to form a single-party government. In the run-up to the elections, PP announced that among its priorities in the economic policy area would be the reduction of outstanding fiscal imbalances along the lines of the existing budgetary deficit targets (6.0% of GDP in 2011 and 4.4% of GDP in 2012) and taming Spain's high unemployment, although it steered away from specifying
