Credit rating agency Moody's cited weak growth and fiscal slippage as key concerns for Spain as it placed the country's Aa2 ratings on review for possible downgrade on Friday.

Moody's said funding pressures were likely to increase in Spain following the Greek rescue package.

The rating agency ... notes that challenges to long-term budget balance remain due to Spain's subdued economic growth and fiscal slippage within parts of its regional and local government sector, the agency said in a statement.

(Reporting by Elisabeth O'Leary, Editing by Sonya Dowsett)