Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative - S&P Global Ratings’ Credit Research

Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative

Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative - S&P Global Ratings’ Credit Research
Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative
Published Apr 28, 2010
1776 words — Published Apr 28, 2010
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Abstract:

In our opinion, Spain is likely to have an extended period of subdued economic growth, which weakens its budgetary position. We are lowering our long-term rating on the Kingdom of Spain to 'AA' from 'AA+'. The negative outlook reflects the possibility of a downgrade if Spain's budgetary position underperforms to a greater extent than we currently anticipate. MADRID (Standard&Poor's) April 28, 2010--Standard&Poor's Ratings Services today said it had lowered its long-term sovereign credit rating on the Kingdom of Spain to 'AA'. At the same time, the 'A-1+' short-term sovereign credit rating was affirmed. The outlook is negative. Standard&Poor's transfer and convertibility assessment is unchanged at 'AAA'. The downgrade primarily reflects Standard&Poor's downward

  
Brief Excerpt:

RESEARCH Spain Downgraded To '##' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative Publication date: 28-Apr-2010 Primary Credit Analyst: Marko Mrsnik, Madrid +34 913 896 953; marko_mrsnik@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
1841Z@SM
Issuer
Spain (Kingdom of)
Sector
Global Issuers, Structured Finance
Country
Spain
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative" Apr 28, 2010. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Spain-Downgraded-To-AA-On-Protracted-Economic-Adjustment-And-Risks-To-Budgetary-Position-Outlook-Negative-795010>
  
APA:
S&P Global Ratings’ Credit Research. (). Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative Apr 28, 2010. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Spain-Downgraded-To-AA-On-Protracted-Economic-Adjustment-And-Risks-To-Budgetary-Position-Outlook-Negative-795010>
  
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