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European Community Jul 08
Standard & Poors, July 2008
Strong member support Prudent budget policies Debt service that benefits from multiple support layers Limited budgetary flexibility The credit ratings on the European Community (EC) reflect strong member state support, including that of several of the world's most advanced economies, constituting a major bloc in the world economy. The commitment of EC member states to closer European integration continues to be strong, as reflected both by the formation of EMU and by the ongoing process of enlargement of the Community, encompassing 27 countries, following the accession of Romania and Bulgaria on Jan. 1, 2007. EC Budget policies are prudent. By law, estimated budget revenues must equal estimated expenditures. Budget resources are derived almost entirely from revenues paid by member states...
Companies mentioned in this report are: European Union
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