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23 May 2014
Spain and Greece ratings raised, outlook sable
FXStreet (Bali) - S&P has raised Spain credit rating to BBB, with outlook stable on improved economic prospects.
S&P added that the outlook reflects risk to rating as balanced next 2 years. With regards to Spain's average 2014-16 real GDP growth, S&P estimates stand at 1.6%. S&P added that "Spain is supported by recovery in employment growth."
Greece rating was also raised to B at Fitch, with outlook stable, with the rating agency attributing the upgrade to near term sovereign liquidity risk having fallen, while establishing a better fiscal track record. Fitch also added that Greece's deficit reduction over past four years is "remarkable", although it admits that "Greek political risk remains high."
S&P added that the outlook reflects risk to rating as balanced next 2 years. With regards to Spain's average 2014-16 real GDP growth, S&P estimates stand at 1.6%. S&P added that "Spain is supported by recovery in employment growth."
Greece rating was also raised to B at Fitch, with outlook stable, with the rating agency attributing the upgrade to near term sovereign liquidity risk having fallen, while establishing a better fiscal track record. Fitch also added that Greece's deficit reduction over past four years is "remarkable", although it admits that "Greek political risk remains high."