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.
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