Spain Sovereign Debt Rating Upgraded by S&P

Spain’s credit rating was raised one level to BBB at Standard & Poor’s, which boosted its economic growth forecasts for the nation.

The outlook for the rating is stable, S&P said in a statement today, after increasing the score for the first time since stripping Spain of its AAA grade in 2009. The move was from BBB-, which is one step above junk, and follows similar moves by Fitch Ratings last month and by Moody’s Investors Service in February.