Fitch just downgraded Spanish long-term guaranteed sovereign debt to AA- from AA+.This follows a downgrade rampage from Fitch on Friday, when it tore down Spain’s and Italy’s long-term issuer default ratings to AA- and A+, respectively.
Here’s today’s official release:
Fitch Ratings-London/Barcelona-10 October 2011: Fitch Ratings has downgraded the Long-term government-guaranteed debt issued by several Spanish financial institutions to ‘AA-‘ from ‘AA+’. The full list of affected securities is available at www.fitchratings.com or by clicking on the link above.
The rating actions follow the downgrade of the Kingdom of Spain’s Long-term IDR to ‘AA-‘ from ‘AA+’ (see “Fitch Downgrades Spain to ‘AA-‘; Outlook Negative”, dated 7 October 2011 at www.fitchratings.com).
All other ratings of the financial institutions included on the list are unaffected by today’s rating action.