The ratings agency Standard & Poor's has cut Spain's credit rating and warned of risks to come.
S&P cut Spain two notches to BBB+, warning that the country could have to take on more debt to support its banking sector.
It has also placed Spain on negative outlook, meaning there is a risk of further downgrades to come.
It predicts the Spanish economy will shrink by 1.5% this year, having previously forecast 0.3% growth.
Source & Image : BBC
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