Spanish credit rating unlikely to be cut to junk - S&P
LONDON, Sept 19
LONDON, Sept 19 (Reuters) - Spain's credit rating is unlikely to be cut to non-investment grade in the near future, Standard and Poor's EMEA ratings chief told Reuters Television on Wednesday.
"We would find it unlikely that the rating would go down to non-investment grade in the near future. Obviously the future is uncertain and the challenges are huge and politically very difficult to overcome," Moritz Kraemer, EMEA head of sovereign ratings at Standard and Poor's, said in an interview.
"But, right now, especially with what we've seen from the ECB, the pre-conditions for success are somewhat higher than a month ago."
The rating agency currently rates Spain at BBB+, three notches above non-investment grade, or 'junk' status.
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