Moody's says to announce results of Spain rating review this month

Reuters

Ratings agency Moody's will announce the results of a review of Spain's sovereign debt rating, which currently stands just one notch away from losing investment grade, sometime this month, a spokeswoman said on Tuesday.

Moody's last cut Spain in June 2012 from A3 to Baa3 and was due to announce a review of the rating in September.

Continue Reading Below

"Moody's review of Spain's rating is continuing to assess a number of factors, including Spanish banks' capital needs, the nature and size of support mechanisms, the recently released 2013 budget plan and the consequences for the euro area's crisis management framework of the further advancement of a banking union," the spokeswoman said in an email.

(Reporting By Paul Day; Editing by Jesus Aguado)