Spain downgraded by S&P

NEW YORK (CNNMoney) — Standard & Poor’s downgraded Spain’s credit rating by two notches on Thursday, the latest sign Europe’s debt crisis is once again gathering force.

S&P said the downgrade, from A to BBB+, “reflects our view of mounting risks to Spain’s net general government debt as a share of GDP in light of the contracting economy.”

Leave a Reply

Your email address will not be published. Required fields are marked *