Daily news from the Canaries and the islands' biggest English language newspaper on-line
    
News from the financial sectors in Spain and the Canary Islands
   News from the financial sectors in Spain and the Canary Islands

Ratings
Spanish debt devalued
America’s Standard and Poor risk assessors have reduced by two levels their risk rating of Spanish debt despite the change of government and the excellent acceptance by the international market of paper recently released onto the market.


Spanish debt devalued

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Landhotel Finca La Hacienda
Tenerife
Active vacation, Funsporting
03.02.2012 - Spain’s rating has dropped from AA- to A and at he same time S&P have removed the top AAA rating from both France and Austria. The only European countries which have maintained their triple A rating is Germany, Finland, Luxembourg and the Netherlands, however the latter three are considered by the company to have a negative economic outlook. Both France and Austria have dropped to AA+, also considered to have a negative outlook in the near future, Italy has dropped from A to BBB+ which puts it on a level with Ireland and Portugal has dropped from BBB- to BB. Cyprus drops from BBB to BB+, Malta from A to A-, Slovakia from A+ to A and Slovenia from AA- to A+. Explaining their decision S&P name several factors, the continued restrictive conditions for credit, the increase of risk premiums for a wide group of countries, low growth prospects and the “prolonged arguments” between the European leaders to solve these problems.



 
Tenerife - 17.05.2012 - A man sought in connection with the attempted murder of his former girlfriend in northern Spain in 2000 has been tracked to Tenerife and arrested. more...
Canary Islands - 17.05.2012 - Today sees a return to the weather normally associated with the month of May in the Canaries, following the week-long heatwave. more...
Tenerife - 17.05.2012 - The cancellation yesterday of the massive Rock Coast Festival in Tenerife just a week before it was due to begin has sparked a furious public outcry. more...
Las Palmas - 16.05.2012 - Rock legend Bruce Springsteen delighted almost 30,000 fans at his concert last night in the football stadium in Las Palmas. more...
Masca - 16.05.2012 - Criticism of foolhardy tourists dominate the media again today after another dramatic rescue, this time in the Barranco de Masca area. more...
Tenerife - 16.05.2012 - Two earthquakes felt yesterday evening in several parts of Tenerife and Gran Canaria have surprised geologists, who had not detected any unusual movements in the hours leading up to them. more...
Essentially you
Look better but maintain your essence
Zara unveils new concept on Fifth Avenue
The launch of international fashion heavyweight Zara’s three-storey Fifth Avenue store in New York recently also saw the unveiling of the brand’s new architectural and interior concept. more...
They’re off!

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