The agency Scope Ratings has upgraded Spain's long-term debt rating from 'A' to 'A+'. Additionally, it has changed the outlook from positive to stable, highlighting the country's economic growth and fiscal improvement.
Scope Ratings has upgraded Spain's long-term debt rating from 'A' to 'A+' and changed the outlook from positive to stable. This decision is based on solid economic growth, improved public finances, and reduced external vulnerabilities, according to the publication expansion.com.
The upgrade in rating implies that Spain has a greater capacity to meet its debt obligations. The agency estimates that the Spanish economy will grow by 2.6% in 2026 and 2.1% in 2027, with an average growth rate close to 2% between 2026 and 2031, exceeding the economy's potential, which stands at 1.7%.
Scope also highlights the strength of domestic demand, the increase in employment and investment, as well as the contribution of migration flows to growth. Regarding the fiscal aspect, the deficit has been reduced from 3.3% of GDP in 2023 to 2.4% in 2025, and it is expected to remain around 2.3% during the period 2026-2031.
In relation to public debt, it is expected that this, which closed 2025 at 100.7% of GDP, will fall below 92% by 2031. However, the agency warns of challenges such as the high level of public debt and structural unemployment, which could limit the Government's ability to respond to future crises.
The Ministry of Economy, Trade and Industry has positively assessed this upgrade, highlighting that Spain is financing itself at a lower cost than France and Italy.
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