Sociedad Estatal de Participaciones Industriales (SEPI) 'A/A-1' Ratings Affirmed; Outlook Stable

In our view, there is an almost certain likelihood that Sociedad Estatal de Participaciones Industriales (SEPI), the holding company that manages the Spanish government's industrial shares, would receive timely and sufficient extraordinary support from the Spanish government if needed. We therefore equalize our issuer credit ratings on SEPI with those on Spain. We are affirming our 'A/A-1' ratings on the company. The stable outlook on SEPI mirrors the outlook on Spain. MADRID (S&P Global Ratings) Oct. 22, 2019--S&P Global Ratings today said it affirmed its 'A' long-term and 'A-1' short-term issuer credit ratings on the Spanish government's holding company Sociedad Estatal de Participaciones Industriales (SEPI). The outlook is stable. We equalize our ratings on SEPI with those on Spain (unsolicited;

...October 22, 2019 - In our view, there is an almost certain likelihood that Sociedad Estatal de Participaciones Industriales (SEPI), the holding company that manages the Spanish government's industrial shares, would receive timely and sufficient extraordinary support from the Spanish government if needed. - We therefore equalize our issuer credit ratings on SEPI with those on Spain. - We are affirming our 'A/A-1' ratings on the company. - The stable outlook on SEPI mirrors the outlook on Spain. MADRID (S&P Global Ratings) Oct. 22, 2019--S&P Global Ratings today said it affirmed its 'A' long-term and 'A-1' short-term issuer credit ratings on the Spanish government's holding company Sociedad Estatal de Participaciones Industriales (SEPI). The outlook is stable. We equalize our ratings on SEPI with those on Spain (unsolicited; A/Stable/A-1). This reflects our opinion that there is an almost certain likelihood that the Spanish government would provide timely and sufficient extraordinary support...

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