Summary: European Coal & Steel Community Oct 08
- ID: 1871570
- October 2008
- Region: Europe
- Standard & Poors
Founded in 1951 by international treaty, the European Coal and Steel Community (ECSC) was a legally autonomous institution that all European Union member countries joined. Its six original members had increased to 15 by the time the treaty expired on July 23, 2002. States joining the EU since that time have become shareholders in the ECSC's successor institution, ECSC in liquidation (ECSCiL). ECSC's mandate was to promote member states' economic development by creating and overseeing a common market for the strategically important coal and steel sectors through the coordination of production and the extension of loans and guarantees. In anticipation of the treaty's expiration, the ECSC's borrowing and lending activities were gradually phased out from 1997. Nevertheless, ECSC issued bonds...
Companies mentioned in this report are: European Coal & Steel Community in Liquidation
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >