April 29, 2010 – Standard and Poor’s has downgraded Spain’s credit rating from AA+ to AA, adding that the country’s outlook was negative — which often points to the possibility of future downgrades.
The downgrade comes off the recent lowering of Greece’s and Portugal’s credit ratings.
The Greek government stated that it needs emergency loans by May 19 to keep from defaulting on debts. The interest rate Greece needs to pay to borrow money was almost 10% as of late Wednesday, a higher rate than emerging markets like India and Mexico pay.
Read more at Global Investing Today:
Spain Investing news – http://investing.einnews.com/spain/
Greece Investing news – http://investing.einnews.com/greece/
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