Credit Rating Report

DBRS Morningstar Confirms the Kingdom of Spain at “A”, Stable Trend

Sovereigns

Summary

DBRS Ratings GmbH (DBRS Morningstar) confirmed the Kingdom of Spain’s Long-Term Foreign and Local Currency – Issuer Ratings at “A” and Short-Term Foreign and Local Currency – Issuer Ratings at R-1 (low). The trend on all ratings remains Stable.

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