TEXT-S&P : Luxembourg BCEE Bank otlk to stbl; 'AA+/A-1+' rtgs afrmd
(The following statement was released by the rating agency)
Jan 16 -
-- On Jan. 14, 2013, Standard & Poor's affirmed its 'AAA/A-1+' ratings on Luxembourg and revised the outlook to stable from negative.
-- We are therefore affirming our 'AA+/A-1+' ratings on Banque et Caisse d'Epargne de l'Etat, Luxembourg (BCEE) and revising the outlook to stable from negative.
-- The stable outlook mirrors that on Luxembourg, reflecting our view of BCEE as a government-related entity with an "extremely high" likelihood of extraordinary government support if needed, and BCEE's generally sound financial profile.
On Jan. 16, 2013, Standard & Poor's Ratings Services affirmed its 'AA+' long-term and 'A-1+' short-term counterparty credit ratings on Banque et Caisse d'Epargne de l'Etat, Luxembourg (BCEE) and revised the outlook to stable from negative.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.