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June 12th, 2012 
FAKE NEWS for the Zionist agenda “The Spanish government’s decision to seek up to 100 billion euros ($125 billion) from eurozone member states to recapitalize its banks has no immediate effect on our ratings on Spain,” SP said on Monday.
The international rating agency warned that investors with Spanish bonds could be at risk if the country ends up needing more money than now expected from a new European bailout fund.
On Saturday, the eurozone ministers agreed to lend Madrid up to 100bn euros to help its banking sector hit by bad property loans.
It is unclear whether Spain’s banking rescue loan would come from the European Financial Stability Facility or the new European Stability Mechanism (ESM) bailout fund.
If the money comes from the ESM, then the bailout fund’s credit would take priority for repayment over ordinary investors in any crisis.
The New York-based agency said the loan would cover the Spanish banks’ shortfalls in provisions against loans going bad and it would have no impact on its sovereign credit rating.
Standard Poor’s cut Spain’s sovereign debt rating by two notches to BBB-plus and added a negative outlook on April 26, warning that the government’s debt crisis was worsening.
Meanwhile, Fitch credit ratings agency has also downgraded Spain’s two largest international banks Banco Santander and Banco Bilbao Vizcaya Argentaria (BBVA) from A to triple B plus.
Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, taking with it millions of jobs. In May, Spain fell back into recession.
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