European Coal & Steel Community Dec 06

Standard & Poors, December 2006

Abstract
Founded in 1951 by international treaty, the European Coal & Steel Community (ECSC) was a legally autonomous partnership starting with six, but eventually composed of 15, EU member countries. 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. The treaty establishing ECSC expired after 50 years, at which time the ownership of ECSC funds was transferred to the European Community (EC). In anticipation of the ECSC Treaty's expiry on July 23, 2002, the ECSC's borrowing and lending activities were gradually phased out from 1997. Nevertheless, ECSC issued bonds that mature after the treaty's...

Companies mentioned in this report are: European Coal & Steel Community in Liquidation,European Union
Action: Review

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.

Research Type: Full Analysis

European Coal & Steel Community in Liquidation,European Union

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