July 21 (Reuters) - Fitch:
* Fitch says revised outlook on Spain’s long-term foreign- and local-currency IDRs to positive from stable and affirmed the IDRs at ‘BBB+'
* Fitch, on Spain, says near-term budget implementation risks have reduced, and Fitch expects faster deficit reduction in 2017 than in recent years
* Fitch says Spain’s country ceiling has been affirmed at ‘AA+’ and the short-term foreign and local currency IDRs at ‘f2’
* Fitch, on Spain, says economic recovery remains strong and relatively broad-based, with some further progress made in reducing macroeconomic imbalances
* Fitch, on Spain, says "expect tensions between the central and Catalonia regional government to increase over the next few months" Source text (bit.ly/2tOkD5j)