Spain’s Outlook Upgraded to Stable by S&P

The economic outlook for Spain has improved, says ratings agency Standard and Poor’s (S&P).

The debt-laden country, whose banks came under severe pressure during the financial crisis, has been struggling to improve its public finances.

S&P raised its assessment from negative to stable and re-affirmed its BBB- long-term sovereign credit rating.

However, S&P cut its credit rating for the Netherlands from the top-level AAA rating to AA+.

S&P citing the Netherland’s worsening growth prospects as a reason for the cut.

This demotion leaves only Germany, Luxembourg and Finland as the remaining eurozone countries with the top rating of AAA, according to S&P.

But rival ratings agencies, Moody’s and Fitch, have maintained their AAA rating for the Netherlands.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza