Standard & Poor's downgrades Spain's debt

04/27/2012 | EUObserver (Brussels)

Standard & Poor's downgraded Spanish debt two steps, from A to BBB+. "The downgrade reflects our view of mounting risks to Spain's net general government debt as a share of [gross domestic product] in light of the contracting economy, in particular due to the deterioration in the budget deficit trajectory for 2011-2015," the credit rating agency said.

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