1. Skip to navigation
  2. Skip to content
  3. Skip to secondary content



Latino Daily News

Friday October 7, 2011

JUST IN:  Fitch Downgrades Spain’s Credit Rating from AA-plus to AA-minus

JUST IN:  Fitch Downgrades Spain’s Credit Rating from AA-plus to AA-minus

Photo: Spain's Credit Rating downgraded

Click Here to Enlarge Photo

Fitch, the international credit rating agency, has just downgraded Spain’s credit rating by two notches from AA-plus to AA-minus.  This downgrade was done on the heals of the agency downgrading Italy’s rating from A+ to AA-.

All of this only adding to global worries about the euro zone debt crisis. 

The credit situation rating for Spain is more worrisome since there is a possibility more downgrades are possible.  Fitch kept a ‘negative outlook’ on Spain’s credit in light of the country’s continued economic decline, slow growth and high regional debt.

Italy and Spain are the eurozone’s third and fourth-largest economies and therefore considered cost prohibitive to rescue if need be.