Axesor Rating confirms the Republic of Portugal’s unsolicited rating at BBB with a stable outlook.

Axesor Rating maintains the rating of the Community of Madrid in A- with negative trend.

In its January review Axesor Rating maintains the unsolicited rating of the autonomous community of Galicia in BBB with a stable trend,

Comments related to the commercial real estate transactions rating methodology

In its November review Axesor Rating maintains the city of Madrid’s unsolicited credit rating at A- with stable trend. Despite the capital growth potential of Spain, there is a slowdown in the evolution of both private consumption and the tourism sector, limiting GDP growth to 4.7%, in line with forecasts [...]