Spain loses triple A rating |

Spain loses triple A rating

Content-Disposition: inline

Its not a good thing to have a developed =
economy lose their AAA credit rating. This is the start of this trend=
not the end.

By Victor Mallet in Madrid

Published: January=
19 2009 13:08 | Last updated: January 19 2009 18:57

Spain
lost its triple A credit rating from Standard & Poor’s on Monday
when the ratings agency downgraded the country’s long-term sovereign
debt because of its deteriorating public finances.

S&P
lowered its rating by one notch to double A plus, arguing that the
global economic crisis had highlighted “structural weaknesses” in the
Spanish economy that were inconsistent with triple A, the highest
rating.

The
decision underscored the strains within the eurozone between relatively
robust northern economies and those in the south =96 Spain, Portugal,
Italy and Greece =96 that would benefit from a devaluation of the common
currency.

http://www.ft.com/cms/s/0/d7ceef24-e625-11d=d-8e4f-0000779fd2ac.html

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