(Reuters) – S&P Global raised Spain’s long-term sovereign credit rating to “A+” from “A” on Friday, citing a private sector driven improvement in the country’s external finances, supported by high savings and robust exports.<\/p>\n
A decade of private sector deleveraging has strengthened Spain’s external balance sheet, making the economy less vulnerable to sudden external financing shocks and more resilient to downturns.<\/p>\n
“Spain’s service-based economy and limited U.S. trade exposure insulate it from the immediate consequences of U.S. merchandise tariffs,” the agency said in a statement.<\/p>\n
The country’s economy has steadily expanded in the aftermath of the pandemic, outpacing the sluggish growth of eurozone peers. The government expects gross domestic product to rise by 2.6% this year.<\/p>\n
Second-quarter GDP data beat forecasts as output grew 2.8% year-on-year, stoked by investment and consumption. However, the government struggles to pass legislation in a fragmented parliament as it balances concessions to various parties across the spectrum.<\/p>\n
The global ratings agency affirmed Spain’s outlook at “stable”.<\/p>\n
(Reporting by Bageshri Banerjee and David M. Latona; Editing by Alan Barona)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) – S&P Global raised Spain’s long-term sovereign credit rating to “A+” from “A” on Friday, citing a…\n","protected":false},"author":2,"featured_media":419992,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5312],"tags":[2000,299,26166,104],"class_list":{"0":"post-419991","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-spain","8":"tag-eu","9":"tag-europe","10":"tag-private-sector","11":"tag-spain"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115194648563985362","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/419991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=419991"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/419991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/419992"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=419991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=419991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=419991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}