here is the bad news: Standard & Poor's on Thursday cut its credit rating on Spain to BBB-plus from A, a two-notch downgrade, citing its expectation the government's budget deficit will deteriorate even more than previously thought due to economic contraction. http://www.reuters.com/article/2012/04/26/us-spain-standardandpoors-downgrade-idUSBRE83P1LE20120426?feedType=RSS&feedName=topNews&rpc=71