S&P reaffirms Spain's debt rating
S&P reaffirms Spain's debt rating - Bloomberg: "Standard & Poor's has given Spain a welcome boost by affirming its debt rating on the country.
In a statement Tuesday, the agency said Spain's AA rating reflects the country's diversified economy as well as the government's resolve in dealing with its public finances and in enacting structural reforms.
However, S&P said the country's rating will remain under pressure over the months to come from the high level of private sector indebtedness, the economy's competitiveness and tough labor market conditions.
S&P's guarded thumbs-up comes amid mounting hopes that EU policymakers are finally getting a grip with the debt crisis that has already seen Greece and Ireland be bailed out."
In a statement Tuesday, the agency said Spain's AA rating reflects the country's diversified economy as well as the government's resolve in dealing with its public finances and in enacting structural reforms.
However, S&P said the country's rating will remain under pressure over the months to come from the high level of private sector indebtedness, the economy's competitiveness and tough labor market conditions.
S&P's guarded thumbs-up comes amid mounting hopes that EU policymakers are finally getting a grip with the debt crisis that has already seen Greece and Ireland be bailed out."
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