October 10, 2017 / 2:48 PM / 9 months ago

Catalonia independence declaration would not impact Spain rating - DBRS

LONDON, Oct 10 (Reuters) - Credit rating agency DBRS said on Tuesday that any declaration of independence by Catalonia would have no “practical implications” for Spain in the near-term and therefore not impact the country’s rating.

Catalonia’s secessionist leader Carles Puigdemont is due to address the region’s parliament in Barcelona around 1600 GMT and could ask the assembly to vote on a unilateral declaration of independence from Madrid.

“A declaration of independence would have no practical implications in the near term and that would mean Catalan companies, the Catalan banks will remain part of Spain, part of the European Union,” Javier Rouillet, lead analyst for Spain at DBRS, said on a call with journalists.

“Therefore we are not concerned about this particular declaration.”

DBRS confirmed Spain’s rating at A (low) on Friday. (Reporting by Dhara Ranasinghe; Editing by Marc Jones)

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