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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (405884)5/28/2010 1:30:40 PM
From: Box-By-The-Riviera™  Read Replies (1) of 436258
 
Currency analyst Win Thin of Brown Brothers Harriman takes issue with this:

Stable? Spain should be downgraded multiple notches. This comes a few weeks after S&P downgraded Spain one notch to AA from AA+ and kept a negative outlook. Spain so far has gotten off relatively easy. However, Spain remains way out of line with our own model, which puts Spain at A/A2/A vs. actual ratings of AA/Aaa/AA. Believe it or not, Moody’s still has Spain as a triple-A credit. We don’t think that can last, and we stress again that we see multiple downgrades ahead for Spain. Indeed, Spain is the 800 pound gorilla in the room. Greece and Portugal are small countries, but Spain is about five times their size with regards to GDP.
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