Spain Long-Term Ratings Raised To 'A-' On Economic Growth And Budgetary Consolidation; Outlook Positive

OVERVIEW Spain's overall economic and budgetary performance has not been hampered by political tensions in Catalonia. We expect Spain's GDP will expand faster than the eurozone average over 2018-2021, and that the government's budget deficit will continue to shrink. As a result, we are raising our unsolicited long-term sovereign credit ratings on Spain to 'A-' from 'BBB+' and assigning a positive outlook, while affirming our unsolicited 'A-2' short-term sovereign credit ratings. RATING ACTION On March 23, 2018, S&P Global Ratings raised its unsolicited long-term sovereign credit ratings on Spain to 'A-' from 'BBB+'. The outlook is positive. At the same time, we affirmed our 'A-2' unsolicited short-term sovereign credit ratings on Spain. OUTLOOK The positive outlook signifies that we could

...OVERVIEW + Spain's overall economic and budgetary performance has not been hampered by political tensions in Catalonia. + We expect Spain's GDP will expand faster than the eurozone average over 2018-2021, and that the government's budget deficit will continue to shrink. + As a result, we are raising our unsolicited long-term sovereign credit ratings on Spain to 'A-' from '###+' and assigning a positive outlook, while affirming our unsolicited 'A-2' short-term sovereign credit ratings. RATING ACTION On March 23, 2018, S&P Global Ratings raised its unsolicited long-term sovereign credit ratings on Spain to 'A-' from '###+'. The outlook is positive. At the same time, we affirmed our 'A-2' unsolicited short-term sovereign credit ratings on Spain....

Ratings Action