What Spain's Slower Phaseout Of Nuclear Energy Means For Power Producers 

Spain's newly proposed nuclear plan increases visibility about the country's phaseout of reactors, but uncertainties remain, including about the profitability of the plants and the investment needed to keep them running. 

Repsol's 2018 Full-Year Results Lay A Solid Foundation For Future Upside 

Repsol S.A. enters 2019 with a strengthened balance sheet to face geopolitical risks, including challenges in Venezuela and to a lesser extent in Libya. With the proven resilience of its integrated model over 2015-2017 to oil and gas price and refining margin volatility, we anticipate sufficient headroom for the planned investment program and shareholder distributions.

Local Government Debt 2019: Slower Debt Reduction For German States And Little Change For Swiss And Austrian LRG Debt

We expect German subnational governments, including auxiliary budgets, will need to borrow €141 billion this year, including through issuing close to €50 billion of bonds, but that total repayment will still exceed new borrowing by about €9 billion. We believe debt reduction will slow in response to softer economic growth and that outstanding debt will total €694 billion at year-end 2019. 

S&P Global Ratings Comments On The Czech Republic's Revised Covered Bond Framework

The Czech Republic has adopted a covered bond legal framework that could allow S&P Global Ratings to assign a covered bond rating that is above the issuer credit rating. However, we believe potential collateral-based uplift may be limited under our criteria by what we view as limited options available to the forced administrator to manage liquidity risk.