DBRS Spain rating AL neg since 08 Aug 2012
From 14 June 2012:
http://www.aviewfrommyscreens.com/2012/06/14-jun-2012-in-broken-dream-edwin.html
The guys at Moody’s were behind their peers’ curve anyway (see 11 Jun post “Unfinished Sympathy”), but have now taken the lead by putting the Kingdom right away on junk outlook. ECB Haircut increase from 4 to 9 % in 10 YRS and probably worse from 1.5 to 6.5% in LTRO-laden 3 YRS paper (ECB link p.73) is thus now hinging on DBRS’ views (Eurosystem credit assessment framework ECAF link).
Haircut table
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