MADRID (MarketWatch)
Standard & Poor's Ratings Services said Wednesday it
is keeping Spain's long and short-term sovereign debt rating at BBB+/A-2 and the
outlook negative
"In our view, Spain's commitment to the ongoing implementation
of a comprehensive fiscal and structural reform agenda remains strong," said the
ratings firm
The negative outlook reflects S&P's view of "multiple risks to
Spain's economic rebalancing, the potential for the crystallization of
additional contingent liabilities, and the effectiveness of the eurozone
policies in stabilizing funding markets
" The ratings firm said it expects the
actual cost of the government providing capital support to distressed Spanish
banks will be "significantly lower" than the current €100 billion estimate,
owing to the government's goal of cutting the burden to Spanish taxpayers of
bank restructuring
S&P said Spain has a risk of greater debt slippage in
2012 -- overshooting the target of 6.3% of GDP -- and 2013
S&P said it
could lower its ratings on Spain to below BBB if it sees euro-zone support
failing to "engender confidence" to keep government borrowing costs at levels
consistent with debt sustainability
Welcome
The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
Cortesía de Investing.com
Agenda Macro
Calendario económico en tiempo real proporcionado por Investing.com España.
miércoles, 1 de agosto de 2012
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