Moody's to review EFSF, ESM ratings after French cut

PARIS Tue Nov 20, 2012 8:05am EST

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PARIS Nov 20 (Reuters) - Credit ratings agency Moody's said on Tuesday it would assess the ratings of the euro zone's EFSF and ESM bailout funds in light of its decision to strip France of its AAA rating on Monday.

"The ratings of the European Financial Stability Fund (EFSF) and European Stability Mechanism (ESM) remain (P)Aaa and Aaa respectively, in each case with a negative outlook," Moody's said in a statement.

"Moody's will assess the implications of the downgrade of the French government's rating for the EFSF's and ESM's ratings as a matter of course, focusing in particular on whether the support available from the remaining Aaa guarantors and shareholders is consistent with the EFSF and ESM retaining the highest ratings," it said.

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