Moody’s Upgrades Spain Credit Rating To Baa2, Positive Outlook

An upgrade of Spain’s credit rating is pleasing but there is more work to be done, the country’s economy minister told CNBC on Saturday.

Credit rating agency Moody’s Investors Service on Friday raised Spain’s sovereign debt rating one notch to Baa2 with a “positive” outlook, praising the country’s progress in rebalancing the economy and implementing structural reforms.

Speaking to CNBC on the sidelines of the G-20 meeting of world finance ministers in Sydney, Luis de Guindos, Minister of Economy and Competitiveness of Spain, said he was pleased with the ratings upgrade but that more work needed to be done.

“I think that if growth starts to pick up and accelerate as we are predicting now, and we are able to stabilize our public debt ratio, these two elements will be the two main factors behind a potential future additional upgrading of the Spanish economy,” he said.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu