SPAIN’S impressive economic performance has seen its credit rating upgraded to the A band.
Currently the poster boy of Europe, Spanish debt has now been rewarded with an A3 rating by credit rating agency Moody’s – the fourth highest rating possible.
The Spanish economy had been labouring under a Baa1 rating for the past five years, although this is the highest rating in the B band.
The upgrade comes just six months after Spain was placed on a ‘positive watch’ thanks to its relatively breakneck growth of 2.5% in 2023.
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Spain’s strong economic performance – outstripping every large economy in Europe – and newfound political stability have bolstered its prospects.
Between April and June alone the economy grew 0.8%, above the OECD average of 0.5%.
The contrast between Spain and France, which grew just 0.3% in the …