S&P Cuts Catalonia to Junk as Regions Tap National Rescue Fund
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Catalonia’s credit rating was cut to junk by Standard & Poor’s after Spain’s most indebted region said it will need to tap a national rescue fund.
S&P lowered Catalonia, the largest of Spain’s 17 autonomous regions, by two grades to BB from BBB- with a negative outlook, the rating company said today in a statement.