Credit Rating Report

Morningstar DBRS Confirms Kingdom of Spain at A (high), Stable Trend

Sovereigns

Summary

DBRS Ratings GmbH (Morningstar DBRS) confirmed the Kingdom of Spain's Long-Term Foreign and Local Currency - Issuer Ratings at A (high). At the same time, Morningstar DBRS confirmed Spain's Short-Term Foreign and Local Currency - Issuer Ratings at R-1 (middle). The trends on all ratings are Stable.

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