Alvise Lennkh & Dennis Shen (Scope Ratings) | Political events in Spain (undecided), Portugal (stable) and Italy (divided) have implications for the three countries, visible in their divergent capacity to reduced the high levels of public debt.
Standard and Poor’s maintained Spain´s rating without changes, at A- with positive perspective. Among the reasons: the uncertainties over the next elections and the tensions in Catalonia.
The credit ratings agency Standard & Poor’s Global Ratings has begun to raise some Spanish companies’ ratings, which was expected after it improved its rating on the country from “BBB+/Positive” to “A-/Positive” on March 23. Bankia, Mapfre and state-owned Cores are the three chosen firms.
In January, Spain terminated its contract with S&P (tired of paying for being knocked done by the ratings agency). S&P then replaced its management team in Spain and now, in March, of its own accord, – because Spain did not ask for the qualification – decided, last Friday, to raise its credit rating on the country by one step, to A- from BBB+, with a “positive” outlook.