The ratings agency Moody's put a negative
outlook on the eurozone's bailout funds along with a bond-rating
downgrade issued late Friday in Frankfurt.
The European Stability Mechanism (ESM), which was inaugurated on October 8 as the eurozone's permanent rescue fund after a lengthy planning and approval process within the European Union, was downgraded by Moody's from Aaa to Aa1. The outlook for the ESM rating is negative, as it was before Friday's downgrade.
The European Financial Stability Facility (EFSF), a temporary bailout fund created in 2010 after Greece became the first eurozone country to need a full-fledged financial rescue, was likewise downgraded from from Aaa to Aa1, with a continued negative outlook, Moody's said.
Most Popular Stories
- Aetna Leaving California's Individual Health Insurance Market
- Honda Says Sorry About the Lack of Electric Fits
- Comcast Takes a Stake in a YouTube Content Provider
- Calories Count: Starbucks to Post the Numbers on Menu Boards
- OSH Selling Most of Its Stores to Lowe's
- Is Stock Balloon Really a Pinata?
- First Person Cured of AIDS Virus Wants to Help Others
- Google Wants to Share PRISM Information
- Katy Perry: Learned About Divorce Via Text Message
- Boeing to Build Stretch-Dreamliners