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

[February 19, 2019]  LONDON (Reuters) - Spain's decision to call a snap election is not likely to hurt the country's credit rating in the near term, S&P Global said on Tuesday.

Cars are being loaded onto a cargo vessel at the port in Valencia, Spain June 28, 2018. Picture taken June 28, 2018. REUTERS/Heino Kalis

"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.

(Reporting by Marc Jones; editing by Julien Ponthus)

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