DBRS alters Spain view to stable

DBRS said it revised the trend for Spain to stable from positive.

“The trend change to stable from positive reflects the fact that Spain’s good economic performance and steady fiscal consolidation have been reversed at least in the near term by the coronavirus outbreak. Despite starting the year carrying positive growth momentum and a sizable fiscal response, Spain´s output is expected to fall sharply in 2020, and to recover partially in 2021,” DBRS said in a press release.

The agency also affirmed Spain’s A long-term foreign- and local-currency issuer ratings.

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