Moody’s changes EU credit rating outlook to negative

Euro sign outside the European Central Bank in Frankfurt

Credit rating agency Moody's Investors Service on September 3 changed to negative from stable the outlook on the Aaa long-term issuer rating of the European Union (EU).

The outlook change was made to reflect the negative outlooks now assigned to the Aaa sovereign ratings of key contributors to the EU budget: Germany, France, the UK and the Netherlands, which together account for around 45% of the EU's budget revenue, Moody's explained.

"Moody's believes it is reasonable to assume that the EU's c

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