Moody's changes EU ratings outlook to negative
SYDNEY, Sept 4
SYDNEY, Sept 4 (Reuters) - Moody's Investors Service has changed to negative from stable its outlook on the Aaa long-term issuer rating of the European Union (EU).
The rating agency has also changed to negative from stable its outlook on the provisional (P)Aaa rating of the EU's medium-term note (MTN) programme.
"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," the agency said.
Moody's said the EU's rating would be particularly sensitive to any changes in the ratings of these four Aaa member states.
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