SPAIN’S long-term rating on its debt was cut yesterday from AA- to A, the second downgrade by the credit rating agency Standard & Poor in three months and the fourth since January 2009.
Eight other European countries were also downgraded with France and Austria losing their top AAA credit ratings.
Germany kept its triple A rating, along with the Netherlands, Finland and Luxembourg.
“In our view, the policy initiatives taken by European policymakers in recent weeks may be insufficient to fully address ongoing systemic stresses in the eurozone,” S&P said in a statement.
- Sierra Nevada’s biggest ski school EOE celebrates 30th birthday - 2 Jan, 2017 @ 21:11
- San Pedro New Year concert tickets on sale - 31 Dec, 2016 @ 18:30
- Queen’s New Year honours for two British residents in Spain - 30 Dec, 2016 @ 23:30
- Merry Christmas to all our valued readers and advertisers - 25 Dec, 2016 @ 09:07
- Police helicopter crew rescue dog and owner from Malaga floods - 4 Dec, 2016 @ 18:09
- Costa del Sol torrential rain alert raised to orange - 23 Oct, 2016 @ 14:45
- Police investigate death of Brit found bound and semi-naked at Malaga airport - 23 Oct, 2016 @ 10:58
- Spain’s PSOE leader resigns with Andalucia regional head Suzana Diaz favourite to succeed him - 2 Oct, 2016 @ 13:14
- Velez-Malaga gas explosion injures at least 77 people - 2 Oct, 2016 @ 12:16
- Chinese hotel group Wanda has got its eyes on the Costa del Sol - 23 Sep, 2016 @ 09:33