city of Madrid' debt | The Corner .eu

city of Madrid’ debt

Spanish economy 12th October 2015

Can Madrid survive without rating?

Fernando Barciela | Madrid leftwing Mayor Manuela Carmena (Ahora Madrid) upset the markets and the media last week with her decision to fire credit rating agencies Standard & Poor’s (S&P) and Fitch, effective from 2016.

Santander, the first European bank that will not redeem its issue of CoCos

Spanish economy 8th October 2015

S&P raises Santander rating above Spain sovereign

After recently raising Spain’s sovereign ratings to ‘BBB+’ from ‘BBB’, S&P has also improved its stance on some of the country’s top banks. S&P’s upgrades comes in the same week as the Madrid local authorities said they could not renew the contracts with that agency.