Another Agency Cuts Spain Credit Rating
Published / Last Updated on 13/10/2011
Another Agency Cuts Spain Credit Rating.
Spain has had its long-term credit rating cut by Standard & Poor’s (S&P), from AA to AA- due to weak growth and high levels of private sector debt.
S&P have also warned of a further ratings cut if Spain's economy worsens. The ratings agency added that the country's high unemployment would continue to be a hindrance to the economy.