Yann Le Pallec, global head of ratings at S&P Global Rating (S&P), recalled in an interview with Expansión that the ratings agency will upgrade Spain this month if current trends are maintained.
The executive said that Spain’s current rating is A- with a positive perspective, which implies that if certain conditions are fulfilled there will be a rise in credit rating.
In the case of Spain, various elements are being observed. The first is the consolidation of the accounts so that Spain keeps its deficit below 3%. In addition, it should maintain the downward trend in its debt, which has stabilised despite remaining vulnerable to a possible slow down. Lastly, the tense situation in Catalunya should maintain a low profile without provoking a significant impact in the economic fundamentals, as until now.
If the situation remains stable, S&P will upgrade the rating on 22 March. If not, the perspective will be downgraded to stable.
