Tags: s&P | rating | spain | bailout

S&P: Spain’s Credit Rating Unaffected by EU Bank Bailout

Monday, 11 Jun 2012 03:27 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Standard & Poor’s Ratings Services said Spain’s request for a bailout for its lenders “has no immediate effect” on the nation’s BBB+ credit rating.

The 100 billion-euro loan covers the company’s estimate of provisioning needs and the full amount would increase Spain’s debt-to-GDP ratio to more than 80 percent over the three years through 2014, the company said.

If the rescue exceeded 100 billion euros and were borrowed from the euro region’s permanent rescue fund, the facility’s “self-declared preferred creditor status could, in our view, constrain Spain’s access to the capital markets and therefore reduce the likelihood of bondholders being paid in full,” the company said.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved