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March 4, 2014

Moody’s Corporation increased evaluation of Spain

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Moody’s Corporation increased evaluation of Spain

The international Corporation Moody's, known for its analytical and research work, thoroughly analyzed the current economic situation in Spain and published the results. Based on the analysis of risks and financial stability of the economy in general and public and governmental financial institutions in particular, Moody's Corporation has improved the final grade for the 10 Spanish autonomous regions. Among them: the Basque Country , Catalonia , Madrid , Andalusia , Galicia, Extremadura , Castilla-La Mancha , Murcia, Castile and Leon, Valencia Community . Thus, the experts of Moody's corporation assessment have improved the economic perspectives of all analyzed Spanish autonomous regions. This improvement, according to experts from Moody's, is based on the assessment of the overall increase in the sovereign debt of Spain, recorded last week. At the moment, Spain's sovereign debt rating increased by 2 points and moved from Baa3 to Baa2 echelon.

Moody's Corporation in the official publication explained this logical increase of assessment of all autonomous regions of Spain after the uprating of Spain as a whole. According to experts, the qualification of the autonomous regions of the country is highly dependent on the overall assessment of Spain and of its dynamics. Thus, with the improvement of macroeconomic indicators and financial market conditions throughout the country, also improve conditions for the regions of Spain. In addition, an international corporation Moody's expressed full confidence in the fact that the current government of Spain will continue to support all kinds of economic mechanisms to ensure sufficient liquidity of the autonomous regions of the country. Moody's Corporation specialists believe that the autonomous regions of Spain manages to keep the public deficit under control and that the tax reform, which must introduce the Government in 2014 , will help to raise more funds to meet its financial obligations of the Spanish autonomies.

Among the autonomous regions of Spain gained a better appreciation the Basque country , which was on the stage Baa1, according to the analysis of Corporation Moody's. Barcelona, like the rest of Spain, is on stage Baa2, according to the analysis of risks and financial reality in the region.

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