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Moody's Downgrades EU's Rating Outlook
289 days ago
(RTTNews) - Moody's Investors Service on Tuesday downgraded European Union's rating outlook to Negative from Stable. The rating agency maintained triple-A rating of the European Union.
The downward revision reflects the negative outlooks now assigned to the Aaa sovereign ratings of key contributors to the EU budget, namely Germany, France, the U.K. and the Netherlands. These nations together account for around 45 percent of the EU's budget revenue.
The EU's creditworthiness move in line with the creditworthiness of its strongest key member states, it said.
In July, Moody's had changed to negative its outlooks for the Aaa ratings of Germany and the Netherlands.
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