Fitch Ratings has revised the Outlook on Spain's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at 'BBB+'. The Country Ceiling has been affirmed at 'AA+' and the Short-Term Foreign and Local Currency IDRs at 'F2'. The long- and short-term issue ratings on Spain's senior unsecured foreign and local currency debt have also been affirmed at 'BBB+'/'F2'. KEY RATING DRIVERS The revision of the Outlook to Positive reflects the following key rating drivers and their relative weights: MEDIUM Near-term budget implementation risks have reduced, and Fitch ... (full story)