Spain AACC Ratings List
| Moody's ratings [+] | S&P ratings [+] | Fitch ratings [+] | |
|---|---|---|---|
| Andalusia [+] | Baa2 | BBB+ | BBB- |
| Aragon [+] | BBB+ | ||
| Asturias [+] | WD | ||
| Cantabria [+] | BBB | ||
| Castile and León [+] | Baa1 | ||
| Castilla La Mancha [+] | Ba1 | BBB- | |
| Canary Islands [+] | A | BBB | |
| Catalonia [+] | Ba1 | NR | BB |
| Estremadura [+] | Baa2 | BBB | |
| Galicia [+] | Baa1 | A | |
| Balearic Islands [+] | BBB+ | ||
| Murcia [+] | Ba1 | BBB- | |
| Madrid [+] | A- | BBB | |
| Navarre [+] | AA- | ||
| Basque Country [+] | A3 | AA- | A- |
| La Rioja [+] | BBB | ||
| Comunidad Valenciana [+] | Ba2 | BB | BBB- |
| Grade | Moody's | S&P | Fitch |
|---|---|---|---|
| Prime | Aaa | AAA | AAA |
| High grade | Aa1 | AA+ | AA+ |
| Aa2 | AA | AA | |
| Aa3 | AA- | AA- | |
| Upper medium grade | A1 | A+ | A+ |
| A2 | A | A | |
| A3 | A- | A- | |
| Lower medium grade | Baa1 | BBB+ | BBB+ |
| Baa2 | BBB | BBB | |
| Baa3 | BBB- | BBB- | |
| Non-investment grade speculative | Ba1 | BB+ | BB+ |
| Ba2 | BB | BB | |
| Ba3 | BB- | BB- | |
| Highly speculative | B1 | B+ | B+ |
| B2 | B | B | |
| B3 | B- | B- | |
| Substantial risks | Caa1 | CCC+ | CCC+ |
| Caa2 | CCC | CCC | |
| Caa3 | CCC- | CCC- | |
| Extremely speculative | Ca | CC | CC |
| C | |||
| In default with little prospect for recovery | SD | RD | |
| In default | C | D | D |
| DD | |||
| DDD | |||
| Not rated | WR | NR |