Summary: European Investment Bank Sep 03

Standard & Poors, September 2003

Abstract
The ratings on the European Investment Bank (EIB) reflect: Robust membership support; Prudent statutory and policy controls; and Strong asset quality. EIB was founded in 1958 by the Treaty of Rome to help finance the balanced development of European Union (EU) member states by providing loans and guarantees for capital investment projects, principally in infrastructure, energy, and industry. The bank continues to enjoy unerring support from member governments; the recent increase in subscribed capital, to ?150 billion from ?100 billion (of which ?1.5 billion was paid in from reserves) is indicative of the continued strength and depth of member commitment. Lending to the accession countries?an estimated ?17 billion between 2000 and 2005?further underpins the bank's development financing role within EU....

Companies mentioned in this report are:
- European Investment Bank

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.

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.

- European Investment Bank

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