DBRS rating agency says that "uncertainty.....>

SPAIN: DBRS rating agency says that "uncertainty [is] to remain after the

Catalan election" and "expects another fragmented regional parliament".

- DBRS says that coalition talks could take some time and another round of

elections in 2018 cannot be ruled out, but do not foresee a 2nd unilateral

declaration of independence. 

- "If pro-independence parties confirm or reinforce their majority, the stance

taken by the central government to open dialogue will be critically important.

Potential for a stalemate remains, with renewed and exacerbated political

tensions over the short to medium term likely", DBRS add.

- Overall, the Spanish economy "momentum remains strong" while any economic

impact from recent push for independence "remained concentrated in the regional

economy".

- "DBRS will monitor the situation to assess any broader impact on that trend

following the regional elections".