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Fitch Affirms Spain at 'A-'; Outlook Stable
Fitch Ratings has affirmed Spain's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A-' with a Stable Outlook. Spain's 'A-' ratings are supported by a relatively high value-added and diversified economy, and governance indicators in line with the 'A' median. This is set against a very large stock of general government debt, external leverage among the highest of Fitch-rated sovereigns, political risk and uncertainty around resolution of the Catalan government's policy of pursuing independence, and a still high unemployment rate. Spain's economic recovery has been accompanied by a reduction in macroeconomic ... (full story)