NEW YORK | Thu Jun 7, 2012 12:54pm EDT
(Reuters) – Fitch Ratings cut its rating on Spain’s government debt by three notches to ‘BBB’ on Thursday and signaled it could lower it further by putting the country on negative outlook.
The new rating was Spain’s lowest among the three main ratings agencies.
Fitch said in a statement that Spain was especially vulnerable to a worsening of the euro zone crisis due to a high level of net foreign indebtedness.
(Reporting by William Schomberg; Editing by Chizu Nomiyama
