Fitch Just Downgraded Spanish Long-Term Sovereign Debt To AA-

Spain Bulls

Photo: AP

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 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

All other ratings of the financial institutions included on the list are unaffected by today’s rating action.

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