Rogue Rating Agency Slashes Spanish Debt
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Egan Jones, a rating agency that is under investigation by the SEC, cut its rating on Spanish debt from BBB- to BB+, or junk status. This is the second time EJR has cut its rating on Spanish debt in two weeks.
Yields on Spanish debt have risen dramatically in the last month. iShares MSCI Spain Index (NYSE: EWP) is down 2% today. The iShares MSCI Spain Index Fund seeks to provide investment results that correspond generally to the price and yield performance of publicly traded securities in the Spanish market, as measured by the MSCI Spain Index.
Yields on Spanish debt have risen dramatically in the last month. iShares MSCI Spain Index (NYSE: EWP) is down 2% today. The iShares MSCI Spain Index Fund seeks to provide investment results that correspond generally to the price and yield performance of publicly traded securities in the Spanish market, as measured by the MSCI Spain Index.
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