Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

S&P cuts Spain ratings two notches to BBB-plus [ Socialism Fails, again ]
Reuters ^ | April 26 2012 | Reuters

Posted on 04/26/2012 5:33:45 PM PDT by NoLibZone

Standard & Poor's on Thursday cut its credit rating on Spain to BBB-plus from A, a two-notch downgrade, citing its expectation the government's budget deficit will deteriorate even more than previously thought due to economic contraction.

The ratings agency put a negative outlook on the credit and said it believes the government will also have to provide more financial support for the euro zone nation's banking sector.

Moody's Investors Service rates Spain one notch higher at A3 with a negative outlook, and Fitch Ratings has it two notches higher at A, also with a negative outlook.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Extended News; Foreign Affairs
KEYWORDS: eu; eucrisis; europeanunion; france; germany; socialisim; spain; spaincrisis; spaindowngrade; unitedkingdom

1 posted on 04/26/2012 5:33:51 PM PDT by NoLibZone
[ Post Reply | Private Reply | View Replies]

To: NoLibZone
A two level cut is rare. There are usually numerous warnings before action is taken so the target can mitigate. The dominos are falling.

Prepare for the most obvious bubble explosion in the last 3 generations.

2 posted on 04/26/2012 7:01:57 PM PDT by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone
A two level cut is rare. There are usually numerous warnings before action is taken so the target can mitigate. The dominos are falling.

Prepare for the most obvious bubble explosion in the last 3 generations.

3 posted on 04/26/2012 7:02:16 PM PDT by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson