Spain to Allow Insurers to Hold Lower Grade Debt, Expansion Says

Spain’s insurance industry regulator will allow Spanish insurers to invest in lower grade debt, Expansion reported, without citing anyone.

Until now insurers were only allowed to buy bonds rated BBB and above but the supervisor will allow the entities to hold bonds with whose ratings have fallen as low as B, the newspaper said.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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