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April 27th, 2012 
FAKE NEWS for the Zionist agenda Spain’s long-term sovereign credit rating has been lowered from A to BBB+, while its short-term rating was cut from A-2 to A-1, AP reported.
The ratings agency has also voiced concern over Madrid’s budget problems and growing debt.
Experts say the downgrade could further increase Spain’s borrowing costs as investors will most likely demand higher interest rates to compensate for the greater risk caused by the downgrade.
In January, Spain as well as eight other eurozone countries were downgraded by the ratings agency.
Spain has announced spending cuts of more than 11-billion dollars as well as tax increases to reduce the country’s deficit to avoid seeking a financial bailout like Greece, Ireland, and Portugal.
Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, destroying millions of jobs.
Analysts say Spain’s economy is expected to enter into a new recession in the first two quarters of 2012.
Europe plunged into deep financial crisis in 2008, which has continued to intensify in recent months.
SZH/AZ
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