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KBRA Assigns A-/K1 Ratings to the Kingdom of SpainKroll Bond Rating Agency Europe Limited (KBRA Europe) assigns A- long-term issuer ratings to the Kingdom of Spain. KBRA also assigns K1 short-term issuer ratings to the sovereign. The long-term ratings carry a Stable Outlook. The sovereign credit report is available here.
Main credit support factors:
Main credit concerns:
The sovereign ratings on the Kingdom of Spain are supported by the country's high level of economic and institutional development as underpinned by EU and Euro area membership, as well as its strong post-crisis macroeconomic performance. The primary rating constraints relate to the elevated government debt burden and the economy-wide reliance on external financing. The ratings are based on KBRA's Sovereigns Rating Methodology published on 11 May 2017. Weights used for assigning these ratings are described in the methodology used for this credit rating action.
_____________________________ Disclosures Further disclosures relating to this rating action are available in the EU Information Disclosure Form. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com. This is an unsolicited rating. The rated entity or related third party did participate in the rating process and KBRA did not have access to the accounts and other relevant internal documents. Related Publications: (available at www.kbra.com) CONNECT WITH KBRA
Twitter About KBRA and KBRA Europe KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. View source version on businesswire.com: https://www.businesswire.com/news/home/20181214005498/en/ |