Standard & Poor’s cut the debt rating for Barcelona to AA- with a negative outlook. The downgrade was expected after Standard & Poor’s cut the sovereign debt rating for Spain. Debt for Spain and Barcelona can expect another downgrade if economic conditions do not improve in the country.
To read a related Wall Street Journal article, please click here:
http://online.wsj.com/article/BT-CO-20111017-709422.html
Jim Sutliff