Spain to buy 5 bln euros of assets Nov, same in Dec

MADRID Oct 27 (Reuters) - Spain will buy 5 billion euros worth of asset- and mortgage-backed securities from lenders in November and the same amount in December in the first stage of its plan to keep credit flowing, the Economy Ministry said on Monday. A 30 billion euro fund, extendable up to 50 billion, to buy assets from banks was outlined by Prime Minister Jose Luis Rodriguez Zapatero on Oct 7.

The government will only buy assets with a credit rating of AA or equivalent, or better.

(Reporting by Ben Harding; editing by Stephen Nisbet)