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BRIEF-Moody's says escalation of conflict in Catalunya‍​ negative for Spain
October 2, 2017 / 7:12 PM / 20 days ago

BRIEF-Moody's says escalation of conflict in Catalunya‍​ negative for Spain

Oct 2 (Reuters) - Moody’s :

* Says escalation of conflict over independence vote is negative for Spain, unclear for Catalunya‍​

* Says ratcheting-up of tensions has negative credit implications for Spain as it complicates process of legislating policy & 2018 budget‍​

* ‍Says “probability of Catalan independence materializing remains low​”

* Says referendum does not immediately affect support that Catalunya has been receiving from Spanish central government since 2012

* ‍Ratcheting-up of tensions in Catalunya has negative credit implications for spanish sovereign because it complicates process of legislating policy

* ‍Says rather than catalan independence, likely outcome is new arrangement between central, regional government for greater devolution of powers to region

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