June 24, 2020 / 3:02 PM / 10 days ago

BRIEF-Moody's Says Coronavirus Impact Will Be Temporary But Restoring Spain's Public Finances Will Take Time

June 24 (Reuters) - Moody’s:

* MOODY’S SAYS CORONAVIRUS IMPACT WILL BE TEMPORARY BUT RESTORING SPAIN’S PUBLIC FINANCES WILL TAKE TIME

* MOODY’S SAYS SPAIN’S GROWTH WILL LIKELY START TO RECOVER FROM H2 2020 WITH A STRONG CATCH-UP IN Q4 AND INTO 2021

* MOODY’S SAYS CORONAVIRUS SHOCK TO CAUSE FISCAL DETERIORATION; WHILE DEBT BURDEN IS SET TO RISE, STRONG DEBT AFFORDABILITY SUPPORTS SPAIN’S CREDIT PROFILE

* MOODY’S - SPAIN’S CREDIT PROFILE REFLECTS ITS RE-BALANCED ECONOMIC GROWTH PROFILE WITH SUSTAINED EXTERNAL SURPLUSES, REDUCED PRIVATE-SECTOR DEBT LEVELS

* MOODY’S - SPAIN’S CREDIT PROFILE REFLECTS ITS RE-BALANCED ECONOMIC GROWTH PROFILE WITH IMPROVED BANKING SECTOR FUNDAMENTALS

* MOODY’S SAYS EXPECTS SIGNIFICANT DETERIORATION IN SPAIN’S ECONOMIC, FISCAL METRICS WILL BE TEMPORARY, WILL BE CORRECTED ONCE PANDEMIC IS UNDER CONTROL

* MOODY’S SAYS RESTORING PUBLIC FINANCES TO 2019 LEVEL WILL BE KEY CREDIT CHALLENGE FOR SPAIN

* MOODY’S - SPAIN’S FRAGMENTED POLITICAL LANDSCAPE WITH SUCCESSIVE MINORITY GOVTS, FREQUENT ELECTIONS HAS COMPLICATED POLICYMAKING

* MOODY’S - SPAIN’S FRAGMENTED POLITICAL LANDSCAPE WITH SUCCESSIVE MINORITY GOVTS, FREQUENT ELECTIONS HAS CONTRIBUTED TO LACK OF STRUCTURAL REFORM MOMENTUM Source text for Eikon:

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