EU rescue fund wins top credit rating AAA

Discussion in 'Wall St. News' started by ASusilovic, Sep 20, 2010.

  1. The three main credit rating agencies have given their highest ratings to a €440bn fund to help eurozone countries in the event that they face difficulties in accessing capital markets.

    The fund, known as the European Financial Stability Facility, is the issuing vehicle for the €750bn international rescue package launched earlier this year following the financial crisis in Greece.

    Moody’s, Standard and Poor’s and Fitch Ratings on Monday all assigned triple-A ratings to the vehicle, which is based in Luxembourg and will act as a backstop to any eurozone country facing problems tapping the bond markets.