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Moody's ups outlook on Spain to stable

  • Moody's has joined S&P and lifted its outlook on Spain to stable from negative.
  • Moody's cited three reasons for its decision: indications of a "sustained rebuilding" of the economy and an improved outlook for the medium term; a "material decrease" in risks to Spain's market access and to contagion from other parts of the eurozone; and a significant fall in contingent liabilities in the banking sector.
  • The agency affirmed its rating on Spain at Baa3.
  • S&P increased its outlook on Spain to stable from negative last week and reiterated the country's rating at BBB-, the lowest investment grade. (PR)
  • ETF: EWP
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