S&P rates European Stability Mechanism AAA

S&P said it assigned its AAA long-term foreign-currency issuer credit rating to the European Stability Mechanism (ESM).

“Our ratings are based on the ESM's extremely strong enterprise risk and financial risk profiles. We note that extraordinary shareholder support for the ESM comes in the form of callable capital of €624 billion, of which €205.2 billion derives from its three AAA rated shareholders: Germany, Luxembourg and the Netherlands,” S&P said in a press release.

The outlook is stable.

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