Spain Retains Investment Grade Credit Rating From Moody's

Spain kept its investment grade credit rating from Moody’s Investors Service, which said the European Central Bank’s willingness to buy the nation’s debt reduces the risk of the country losing market access.

Moody’s assigned a negative outlook on its Baa3 rating, one step above junk, as it concluded a review for a possible further downgrade of Spain initiated in June, the New York-based company said in a statement yesterday.

The willingness of the ECB to purchase Spain’s government bonds on the secondary market “is an important step” for Spain to maintain access to credit markets, Kathrin Muehlbronner, a Moody’s analyst in London, said in a telephone interview.

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- Posted: 2012-10-17 12:59:54

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