Fitch Ratings has upgraded Spain's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'A-' from 'BBB+'. The Outlook is Stable. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS The upgrade of Spain's IDRs reflects the following key rating drivers and their relative weights: Medium Spain is continuing to benefit from a reduction in macroeconomic imbalances underpinned by a strong, relatively broad-based, economic recovery. 4Q17 GDP growth is expected to have matched the 3Q rate of 0.8%, with GDP expanding 3.1% for the full year, and averaging 3.3% from 2015-2017. ... (full story)