Standard & Poor’s has upgraded Spain’s sovereign credit rating to BBB from BBB-, the ratings agency said on Friday.
“The outlook is stable, reflecting our current view that risks to the ratings on Spain will remain balanced over the next two years,” the agency said in a statement.
S&P revised up its average 2014-2016 real GDP growth forecasts for Spain to 1.6 percent from 1.2 percent, reflecting the effects of labor and other structural reforms.
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