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DBRS upgrades Spain’s rating to A+ from A, with stable outlook

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Posted By: The Corner 3rd December 2024

Bankinter | DBRS upgrades its rating to A+ from A. Stable outlook. Based on strong economic growth, reduction of external debt and improvement in public finances. Deficit is expected to fall to 3% of GDP this year and public debt to 100% of GDP by 2026.

Analysis team’s view: Good news for Spanish debt, whose 10-year bond trades with a yield of 2.79% and a risk premium of +70bp against the Bund. DBRS places the rating above that of S&P (A; stable) and Moody’s (Baa1; positive).

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.