The long-term sovereign rating of Spain has been left at Baa3, according to Moody’s. Forecasts remain negative. The short-term rating stays at prime-3, RIA Novosti reports.
Sovereign ratings of Spain entered the list of ratings for reduction in mid-June.
Analysts say that Spain will have easier access to capital markets in the light of the plans of the European Central Bank to purchase state bonds. Another positive factor is structural and financial reforms to be launched and restructuring of the Spain’s banking sector.
Greece’s quitting the euro zone is still highly risky.
Standard & Poor’s reduced the long-term sovereign credit rating of Spain by two points with a negative forecast and the short-term by one point to A-3. The agency expects Spain’s GDP to drop by 1.4%, earlier forecasts predicted 0.6%.
