Spanish Stocks Plunge Most In 12 Months As Egan-Jones Cuts Spain To CCC+

Friday, July 20, 2012
By Paul Martin

by Tyler Durden
ZeroHedge.com
07/20/2012

With IBEX down 6%, 10Y yields over 7.30%, 10Y spread over 610bps, and EURJPY at 12 year lows; the hits just keep coming…

EWP: Egan-jones cuts Spain sovereign rating to CC+ from CCC+
Spain Won’t Grow Until 2014 as Eurozone Agrees Bank Bailout
*SPAIN BAD BANK MAY INCLUDE NON REAL-ESTATE DETERIORATED ASSETS
*SPAIN BAD BANK TO APPLY `REAL LONG-TERM’ ECONOMIC VALUATIONS
*SPAIN TO MAKE ROADMAP BY END-NOV FOR LISTING OF RESCUED LENDERS
*SPAIN’S LOAN-LOSS PROVISIONING FRAMEWORK TO BE REASSESSED (will we see the same in the US?)
via Bloomberg.

The Rest…HERE

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