Economy: EH's Araba

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#35

From: Congress for Peace in Euskal Her...
Date: Tue, 13 Oct 1998 00:00

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Re: Economy: EH's Araba

>Fitch IBCA affirms Spain's Alava at AA long-term

LONDON, Oct 13 (Reuters) - Rating agency Fitch IBCA said on Tuesday it
affirmed its long-term foreign currency rating on Spain's Diputacion Foral de
Alava (DFA) at AA and short-term rating of F1 plus.

It said the rating apply to senior unsecured debt.

Alava's economy continues to outperform the Basque Country as a whole, and
Spain, in terms of real GDP growth and GDP per capita. Its economy had not
suffered the structural problems associated with heavy industry that have
affected other Basque areas, Fitch IBCA said.

The DFA had exercised very good control over its budget and had reported a
budget surplus on an accrual basis, the agency said.

06:09 10-13-98 <

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From: Congress for Peace in Euskal Herria <CPEH@AOL.COM>
Subject: Economy: EH's Araba
Date: 1998/10/13
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