Sub-Sovereign
Outlook: Observation
Action date: 06/05/2020
Rating action: Affirmed

AYUNTAMIENTO DE BARCELONA

We updated our unsolicited credit rating of the City of Barcelona with a change of outlook from Stable to Under Review, due to the current economic scenario derived from COVID-19, as a continuation of our recent review of the rating of the Kingdom of Spain to A / Under Review, given its high dependence on resources from the State Administration (stand-alone rating AA-) that limit its rating.

Rating

Unsolicited
Date last rating: 06/05/2020
Date first rating: 06/21/2019