January 13, 2009 / 3:46 PM / in 9 years

Spain's Zapatero: no reason for S&P ratings change

MADRID, Jan 13 (Reuters) - Spanish Prime Minister Jose Luis Rodriguez Zapatero said on Tuesday he saw no reason why ratings agency Standard & Poor’s should downgrade the long-term sovereign debt rating of Spain.

S&P said on Monday it put Spain, which it rates AAA, on negative Creditwatch with negative implications because of recession and weak growth outlook.

“From our perspective there are no reasons for it, firstly because of the strength of the country (and) because the public accounts are solvent,” Zapatero told Onda Cero radio. (Reporting by Manuel Maria Ruiz; editing by Sarah Morris)

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