S&P revises Spain’s outlook to negative

Standard & Poor’s, the credit rating agency, turned pessimistic on the Spanish economy in December 2009.

S&P, which had stripped Spain of its triple A sovereign credit rating in January 2009, affirmed the country’s current ratings but revised the outlook to 'negative' from 'stable', blaming the likelihood of more prolonged economic weakness and greater deterioration of public finances than previously expected.

ESO: Background information: Madrid happy to fall in step with ECB policy http://www.europeansources.info/record/madrid-happy-to-fall-in-step-with-ecb-policy/

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