S&P affirms European Union

S&P said it affirmed its AA/A-1+ long- and short-term issuer credit ratings on the European Union.

The outlook is stable.

The agency also affirmed the AA long-term issue rating on the EU's senior unsecured debt.

“The affirmation reflects our opinion that the union's net contributors will continue demonstrating willingness and capacity to commit to the EU budget,” S&P said in a news release.

“The affirmation also reflects our assessment of the relative strengths and weaknesses for the EU's creditworthiness, which we think will continue to have an overall neutral impact on the ratings.”

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