Spain bailout less likely, Moody’s says

MADRID — Spain is less likely to need a sovereign bailout now than it was in October as funding costs have fallen since then, according to Moody’s Investors Service.

“When we did our last rating action we said we do attach quite a high likelihood for Spain’s having to ask for an ESM precautionary credit line — that is embedded in the current rating,” Kathrin Muehlbronner, an analyst at Moody’s, said Tuesday.

“At the moment we would see the likelihood as lower than back in October.”