S&P cuts Spain credit rating to near junk
NEW YORK (Reuters) – Standard & Poor’s on Wednesday cut Spain’s sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government’s policy options to arrest the slide. The S&P downgrade comes with a negative outlook reflecting the credit ratings agency’s view that there are significant risks to economic growth and budgetary performance, plus a lack of clear direction in euro zone policies. . . .
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