Spain lost its AAA credit grade at Fitch Ratings as Europe battles a debt crisis that has prompted policymakers to forge an almost $1 trillion bailout package for the region's weakest economies.
The ratings company on Thursday cut the grade one step to AA+ and assigned it a "stable" outlook, according to a statement from London. Spain has held the top rating at Fitch since 2003. Standard & Poor's lowered Spain's ratings to AA on April 28, Denver Post reports.
World equities slid and the euro fell on Friday after a downgrade of Spain's credit rating sent a new chill through markets already worried about the European debt crisis.
The downgrade by Fitch Ratings ignited a new round of selling in equities that were already lower after lackluster U.S. economic data injected a note of caution ahead of long holiday weekends in both the United States and the UK.
Fitch downgraded Spain's credit rating to AA-plus, and said it expects the country's adjustment to a lower debt level will materially reduce its rate of economic growth over the medium-term, according to Reuters.
The Investigative Committee of the Russian Federation put the head of the contractor company of Russia's space corporation Roskosmos, Sergei Slastikhin, on international wanted list
"Washington operators of the sanctions machine ought to get acquainted with the history of Russia, to stop the unnecessary fussing," spokesperson for the Foreign Ministry said