Research Update: Long-Term Rating On EU Supranational Lowered To 'AA+'; Outlook Stable; Ratings On Member States Are Unaffected Dec 13
- Language: English
- Published: December 2013
Founded in 1951 by international treaty, the European Coal & Steel Community (ECSC) was a legally autonomous partnership eventually composed of the 15 European Union (EU) member countries. In anticipation of the ECSC Treaty's July 23, 2002, expiration, ECSC's borrowing and lending activities were gradually phased out beginning in 1997. Solid membership support, strong asset quality, and conservative financial management were key factors supporting ECSC's ratings. As of July 24, 2002, ECSC's net assets became known as "ECSC in liquidation;" once the liquidation process is complete, these will form the "Assets of the Research Fund for Coal and Steel." The return on these assets, known as the "Research Fund For Coal and Steel," will fund research in the coal and...
Companies mentioned in this report are: European Coal & Steel Community in Liquidation
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European Coal & Steel Community in Liquidation