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Spain's Credit Rating Upgraded to BBB+ by S&P

  • Spain's rating of BBB+ is three levels above junk status
  • Ratings company cites economy, improving public finances
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Spain’s credit rating was raised to BBB+ by Standard & Poor’s, which cited reforms to labor regulations, improved export competitiveness and easier financial conditions for the economy.

The outlook for the rating is stable, S&P said in a statement Friday. The one-level upgrade was the first step taken on Spain’s rating by S&P since it upgraded the country to BBB in May 2014. The new rating is three levels above non-investment grade.