Moody’s affirms European Union

Moody's Investors Service said it affirmed the European Union's long-term Aaa issuer rating, short-term provisional P-1 rating and stable outlook.

The action reflects the agency’s view that the EU's Aaa rating rests principally on the credit strength of its most highly rated members, and on their commitment to ensuring the continued soundness of its finances, underpinned by the joint and several obligations each EU member assumes to provide it with financial support where needed.

Moody's does not expect that the United Kingdom's vote to leave and its eventual exit will alter either the capacity or the willingness of those very highly rated members to continue to honor their obligations to support the EU.

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