S&P: Appointment of new government in Spain has no immediate effect on sovereign rating

In a recently published report, S&P Global analysts said that the appointment of the new government in Spain had no immediate effect on the sovereign rating of the country, which currently stands at A-, and added that they could revise the rating outlook to negative if the economic growth were significantly weaker than they currently expect, as reported by Reuters.

Commenting on the current situation, "in our view, there is currently a lack of visibility on the details of the government's economic policy strategy, which will continue to be a key driver of Spain's creditworthiness," analysts noted.