Moody’s Spain credit rating stable despite deficit slippage
World BusinessMar 20, 2012
WASHINGTON (AFP) ― Moody’s on Monday left Spain’s credit rating unchanged despite the country’s missing its deficit goal and requiring new targets to be set.“The easier targets do not affect the country’s “A3” government bond rating with negative outlook because Moody’s had already incorporated a likely deviation from original fiscal targets and a slower pace of fiscal consolidation into its analysis,” the ratings agency said.The ratings confirmation came after Brussels allowed Madrid to relax i