LUXEMBOURG (MNI) Following is a statement by the European
Financial Stability Facility (EFSF) released Monday on the downgrade by
Standard & Poor’s:
“EFSF takes note of the decision by Standard and Poor’s to
downgrade the EFSF’s long-term rating to AA+.
At the same time, Standard and Poor’s also affirms that the EFSF’s
short-term rating remains unchanged at the highest possible level of
A-1+.
EFSF continues to be assigned the best possible long-term and
short-term credit rating by Moodys (Aaa) and Fitch (AAA) underlining
the solidity of EFSF. Neither rating agency has indicated any rating
action for EFSF in the immediate future.
Klaus Regling, CEO of EFSF, stated: ‘The downgrade to AA+ by only
one credit agency will not reduce EFSFs lending capacity of 440
billion. EFSF has sufficient means to fulfill its commitments under
current and potential future adjustment programmes until the ESM becomes
operational in July 2012.
EFSF has become a well established signature in the supranational
bond market. It can rely on an investor base which is well diversified
in terms of both geographical region and investor type. EFSF will
continue to be a quality issuer backed by unconditional and irrevocable
guarantees by all euro area member states.
[TOPICS: M$X$$$,MGX$$$,MFX$$$,M$$CR$,MT$$$$]
