Arab Today, arab today sp downgrades spain 2 notches
Last Updated : GMT 06:25:34
Arab Today, arab today
Arab Today, arab today

S&P downgrades Spain 2 notches

Arab Today, arab today

Arab Today, arab today S&P downgrades Spain 2 notches

Washington - AFP

Standard & Poor\'s cut Spain\'s sovereign debt rating Wednesday by two notches to just above junk level, citing the deepening recession and strains from the country\'s troubled banks. S&P cut the rating to BBB- from BBB+, just one level above \"speculative\" or \"junk\" grade debt, which could have sent Madrid\'s borrowing costs skyrocketing to untenable levels. \"The downgrade reflects our view of mounting risks to Spain\'s public finances, due to rising economic and political pressures,\" S&P said. \"The deepening economic recession is limiting the Spanish government\'s policy options,\" it said, adding that rising joblessness and tighter spending will likely intensify social conflict and tensions between the country\'s regions and Madrid. Moreover, S&P expressed doubts that all of the eurozone governments will give their backing to the bloc\'s effort to recapitalize Spain\'s banks, leaving more of the burden at least on the Spanish government and forcing its debt burden to balloon. \"Against the backdrop of a deepening economic recession, we believe that the government\'s resolve will be repeatedly tested by domestic constituencies that are being adversely affected by its policies,\" S&P said. \"Accordingly, we think the government\'s room to maneuver to contain the crisis has diminished.\" The ratings agency also attached a \"negative outlook\" to the rating, a warning of a possible further downgrade over the medium term. Such a downgrade would come, S&P said, if political support for the government\'s reform agenda weakens, if eurozone support fails to prevent Spain\'s borrowing costs from jumping above sustainable levels, or if debt tops 100 percent of economic output or debt payments surpass 10 percent of general government revenues.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sp downgrades spain 2 notches Arab Today, arab today sp downgrades spain 2 notches

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday