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Spain Affirmed at BBB- by S&P on Structural Reform Commitment

Spain’s credit rating was affirmed at BBB- by Standard & Poor’s, which said that the country’s commitment to the implementation of a comprehensive fiscal, structural reform agenda remains strong.

The outlook on the long-term rating remains negative, which still shows the potential for a downgrade if political support on the current reform agenda dwindles, the budget “significantly” worsens or policies in the euro area falter in stabilizing the country’s funding costs, S&P analysts Marko Mrsnik and Frank Gill said in a statement today.