- Business
- Childbirth & Education
- Legal Formalities
- Motoring
- Other
- Pensions & Benefits
- Property & Accommodation
- Taxes
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Join us for Tea on the Terrace
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
- Liva & Laia : 15th November
Fitch Ratings has affirmed Spain's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB' with a Negative Outlook. The short-term foreign currency IDR is affirmed at 'F2' and the Country Ceiling at 'AAA'.
The affirmation of Spain's sovereign ratings reflects Fitch's understanding that public debt will remain under 100% of GDP - even given some assumed fiscal slippage and a continuation of Spain's deep recession in 2013. This projection also incorporates the cost to the state of bank support, which the agency judges to be "affordable".
The agency maintains its assumption that medium term potential growth is 1.5%, projecting that public debt will peak in 2014-15 at around 96% and decline gradually thereafter, assuming an effective interest rate close to current levels.
Fitch's also believe that the contingent liabilities from the banking sector have been adequately sized and that capital injections required from the Spanish sovereign will not exceed EUR60b.