After the US close this evening, S&P will...>

RATINGS: After the US close this evening, S&P will update France's rating;

Moody's updates Italy and Luxembourg, DBRS updates Austria and Spain.

- Clearly, a lot of attention will be on DBRS's update on Spain. Nicolas

Fintzel, vice president of global sovereign ratings at DBRS, told Market News

International in an interview earlier this week. "Our baseline scenario is for

continued unity for Spain." 

- Fintzel said, however that the rating firm was standing by a report it issued

in August concluding that "under DBRS's most likely scenario...Spain is expected

to preserve its unity over the medium term."

- The view reflects the Madrid government's staunch opposition to Catalonia

independence, the substantial legal and institutional obstacles as well as the

"strong economic growth and the rapid reduction in unemployment both in Spain

and in Catalonia," the DBRS report said.

- Moody's review of its Baa2 Italian rating with negative outlook (dating from

Dec-16) is also of interest. Banking problems have cleared up since the rating

was assessed in Feb but politics are a complication.