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S&P upgrades Spain
Standard & Poor's said it raised the long- and short-term foreign and local currency sovereign ratings on the Kingdom of Spain to BBB/A-2 from BBB-/A-3.
The outlook is stable.
S&P said the upgrade reflects its view of improving economic growth and competitiveness as a result of Spain's structural reform efforts since 2010, including the 2012 labor reforms.
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