Standard & Poor’s downgraded Spain from A to BBB+ due to persistent investor concern. According to the International grading agency “the downgrade reflects our view of mounting risks to Spain’s net general government debt as a share of GDP in light of the contracting economy, in particular due to the deterioration in the budget deficit trajectory for 2011-2015”.
In its report Standard & Poor’s  announces further downgrades down the line, as Spain’s economy is expected to shrink by 1.5 percent this year, as opposed to 0.3 percent growth predictions a few months earlier.
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