Credit Rating Report

Morningstar DBRS Changes Trends on Kingdom of Spain to Positive, Confirms Ratings at “A”

Sovereigns

Summary

DBRS Ratings GmbH (Morningstar DBRS) changed the trend on the Kingdom of Spain’s Long-Term Foreign and Local Currency – Issuer Ratings to Positive from Stable and confirmed the ratings at “A”. At the same time, Morningstar DBRS changed the trend on Spain’s Short-Term Foreign and Local Currency – Issuer Ratings to Positive from Stable and confirmed the ratings at R-1 (low).

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