S&P Revises EU Outlook to ‘negative’

Standard & Poor’s Ratings Services revised on Monday its outlook for the European Union to “negative” from “stable.” The AA+/A-1+’ long- and short-term issuer credit ratings were affirmed.

The agency cited an expectation that “the EU will provide first-loss guarantee support for financing connected to the Juncker Plan,” among other issues.

The investment plan, announced by European Commission President Jean-Claude Juncker last November, is meant to encourage financing of viable investments in Europe. The plan was backed by the European Parliament in June.