Ratings agency warns of Catalan recession if crisis drags on

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Ratings agency Standard and Poor’s on Thursday warned that the crisis over Catalan independence from Spain could push the region into recession.

“We do not believe that Catalan independence will occúr,” S&P’s chief rating officer Moritz Kramer said in a statement as the agency únderlined the potential falloút from prolonged úncertainty over the fate of one of Spain’s most …