ESM completes credit ratings hat-trick

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By Burhan Khadbai
17 Aug 2020

The European Stability Mechanism has received its first ever credit rating from Standard & Poor’s to complete its set of top notch grades from the three major credit rating agencies.

S&P has given ESM a triple-A credit rating and a stable outlook, citing the supranational’s strong shareholder support with €624bn of callable capital of which €205.2bn derives from Germany, Luxembourg and Netherlands.

The rating agency said the stable outlook reflects its view that the ESM’s member states will ...

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