Moody’s cuts EU outlook to ‘negative’

The agency also cut its outlook on the provisional (P)Aaa rating of the EU’s medium-term note (MTN) program from ‘stable’ to ‘negative.’ “The negative outlook on the EU’s long-term ratings reflects the negative outlook on the Aaa ratings of the member states with large contributions to the EU budget: Germany, France, the UK and the Netherlands, which together account for around 45 percent of the EU’s budget revenue,” Moody’s said in a statement on Monday. (RT News).]]>