S&P revises Spain view to positive

S&P said it revised its outlook on Spain to positive from stable and affirmed its BBB+/A-2 long- and short-term foreign and local currency sovereign credit ratings.

S&P said the outlook revision reflects its expectation of a continued strong and balanced economic performance over the coming two years and the possibility of an upgrade if economic performance and budgetary consolidation continue in line with the agency’s expectations or if it observes further improvements in the monetary transmission mechanism.

The BBB+ long-term rating on Spain balances the economy's robust economic recovery with the country's high external and public debt burdens, weak recent fiscal track record and political uncertainty, S&P added.

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