S&P downgrades Spain amid contagion fears

Standard & Poor’s, the credit ratings agency, downgraded Spain’s long-term sovereign debt by a notch from AA+ to AA on the 28 April 2010 and said its outlook remained negative, dealing another blow to the country’s increasingly frantic efforts to avoid contagion from the Greek debt crisis.

ESO: Background information: Spain has the means to avoid Greece’s fate http://www.europeansources.info/record/spain-has-the-means-to-avoid-greeces-fate/

ESO: Background information: Markets poised to punish Spain http://www.europeansources.info/record/markets-poised-to-punish-spain/

ESO: Background information: Spain and Portugal fight to calm investors http://www.europeansources.info/record/spain-and-portugal-fight-to-calm-investors/

BBC News, 28.4.10: Greece crisis: Fears grow that it could spread http://news.bbc.co.uk/1/hi/business/8648029.stm

S&P: Press Release, 28.4.10: Spain Downgraded To 'AA' On Protracted Economic Adjustment And Risks To Budgetary Position; Outlook Negative http://estaticos.elmundo.es/documentos/2010/04/28/informe_sandp.pdf

Deutsche Welle, 28.4.10: Spain follows Greece, Portugal down credit rating slide http://www.dw-world.de/dw/article/0,,5516038,00.html

France24, 28.4.10: Spanish stocks slump after S&P credit downgrade http://www.france24.com/en/20100428-markets-spain-standard-poor-downgrade-madrid-financial-crisis

EurActiv, 29.4.10: Greek crisis starts hitting other eurozone countries http://www.euractiv.com/euro-finance/greek-crisis-starts-hitting-euro-news-489423

EurActiv, 29.4.10: Brussels’ U-turn on rating agencies http://www.euractiv.com/euro-finance/brussels-turn-rating-agencies-news-491488

El País, 29.4.10: Will a financial black hole engulf all? (via PressEurop) http://www.presseurop.eu/en/content/article/242231-will-financial-black-hole-engulf-all

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