S&P Downgrades Spain

Standard & Poor’s yesterday downgraded its long-term debt rating on Spain to “AA-” from “AA,” citing the country’s weak growth prospects and risks facing its banks. The Spanish economy is burdened by high unemployment, tight credit, heavy private-sector debt loads, and prospects that its main trading partners will also stumble,…

Read more from the original source:
S&P Downgrades Spain

Posted by on October 14, 2011. Filed under News, World News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.