Tag Archives: Spain Long-Term Debt Lowered To BBB+ From A With Negative Outlook; 100% Certain Conditons In Spain Worsen

Mish/ Mike Shedlock – Spain Long-Term Debt Lowered To BBB+ From A, With Negative Outlook; 100% Certain Conditons In Spain Worsen – 27 April 2012

Why Spanish debt was Rated “A” for as long as it has been remains a mystery. Indeed BBB+ seems like a gift. Nonetheless, expect howls from Europe as Spain Cut by S&P for 2nd Time This Year on Banks, Economy.

Spain’s sovereign credit rating was cut for the second time this year by Standard & Poor’s on concern that the country will have to provide further fiscal support to banks as the economy contracts. Continue reading