Spain’s Outlook Upgraded to Stable by S&P

The economic outlook for Spain has improved, says ratings agency Standard and Poor’s (S&P).

The debt-laden country, whose banks came under severe pressure during the financial crisis, has been struggling to improve its public finances.

S&P raised its assessment from negative to stable and re-affirmed its BBB- long-term sovereign credit rating.

However, S&P cut its credit rating for the Netherlands from the top-level AAA rating to AA+.

S&P citing the Netherland’s worsening growth prospects as a reason for the cut.

This demotion leaves only Germany, Luxembourg and Finland as the remaining eurozone countries with the top rating of AAA, according to S&P.

But rival ratings agencies, Moody’s and Fitch, have maintained their AAA rating for the Netherlands.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.