Fitch: Positive Impact from Spanish Regions' Commercial Debt Law

September 1, 2016 5:01 PM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: State Law 9/2013 to Control Commercial Debt in Autonomous Communities here BARCELONA, September 01 (Fitch) Fitch Ratings says that State Law 9/2013 on controlling Spanish regions' commercial debt (LCCD) has positive rating effects.

Recent developments indicate that the central government has adopted a more proactive role than we expected, putting pressure on autonomous communities to meet their invoice payment target. The LCCD's positive ratings impact results from its empowerment of the Ministry of Finance and Public Administ...

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