Fitch ups Spain outlook

|By:, SA News Editor

Fitch has raised its outlook on Spain's debt to stable from negative and left its rating at BBB, the second-lowest investment grade.

Fitch explained that Spain has improved its "policy track record," such as with the banking sector, labor market, pension system and budget. In addition, the recovery from recession and the achievement of a current-account surplus has taken place earlier than expected.

Last week, GDP data showed that Spain exited recession in Q3 after over two years.