S&P says Spain’s snap election won’t dent credit rating

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© Reuters. Cars are being loaded onto a cargo vessel at the port in Valencia© Reuters. are being loaded onto a cargo vessel at the port in Valencia

(Reuters) – ’s decision to call a snap election is not likely to hurt the country’s credit rating in the , S&P Global (NYSE:) said on Tuesday.

“The ratings on Spain (unsolicited; A-/Positive/A-2) are not likely to be immediately affected by recent political events,” S&P’s two main sovereign analysts for Spain, Marko Mrsnik and Frank Gill, said in a new report.

They added that Spain’s economy was performing well and while it was expected to slow somewhat and could be dampened by political divisions, it should continue to grow above the euro zone average over next three years.

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Source: Investing.com