Spain’s credit rank was raised by Standard & Poor’s, while Fitch Ratings increased Greece’s grade, as the economic outlooks improve for countries that were at the heart of Europe’s sovereign debt crisis.
The U.S. lost its top credit grade in August because of the imminent danger of a “real liquidity crisis,” and Standard & Poor’s made no errors in its analysis, said Moritz Kraemer, managing director of sovereign ratings.
Standard & Poor’s analyst Moritz Kraemer said Italy is the country most under scrutiny by policy makers as its financing needs are larger than the support available from Europe’s crisis-fighting resources.
Britain requires a “sustained” effort to keep its top credit rating, even after the government announced the steepest cuts in spending in a generation, said Moritz Kraemer , head of sovereign ratings for Europe, Middle East and Africa at Standard & Poor’s.
Some countries in the euro region may have their credit ratings cut further while a Greece debt default is a “possibility,” said Moritz Kraemer, managing director of European sovereign ratings at Standard & Poor’s.
There is no “serious risk” of a country exiting the single European currency because leaving would cause more pain than staying, said Moritz Kraemer , head of sovereign ratings for Europe at Standard & Poor’s.