Standard&Poor's is placing its 'AA-' long-term and 'A-1+' short-term sovereign credit ratings on the Kingdom of Spain on CreditWatch with negative implications. The CreditWatch placement is prompted by our concerns about the potential impact on Spain of what we view as deepening political, financial, and monetary problems within the European Economic and Monetary Union. Our CreditWatch review will focus on the "political", "external", and "monetary" scores we have assigned to Spain in accordance with our criteria. We expect to conclude our review as soon as possible after the European summit on Dec. 9, 2011. LONDON (Standard&Poor's) Dec. 5, 2011--Standard&Poor's Ratings Services today placed its 'AA-/A-1+' long- and short-term sovereign credit ratings on the Kingdom
