Epic Research Singapore : U.S Market Update

Standard & Poor's on Friday revised up its outlook on Spain to stable from negative, and affirmed its BBB sovereign-debt rating. "The stable outlook incorporates our view that Spain's credit metrics are stabilizing and that we currently see less than a one-in-three probability of the rating moving up or down over the next two years," said S&P in a press release. S&P said it sees improvement in Spain's external position as growth resumes, and expects GDP will contract by 1.2% in 2013, but then slowly recover, with 0.8% growth in 2014 and 1.2% in 2015, helped largely by robust exports. And S&P said Spain's government will broadly meet its budgetary deficit target of 5.8% of GDP in 2014.
 
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