Moody's rates European Stability Aaa/Prime-1

Moody's Investors Service said it assigned a long-term issuer rating of Aaa and a short-term issuer rating of Prime-1 to the European Stability Mechanism.

The outlook is negative.

Moody's said the Aaa/Prime-1 ratings are based on (a) European Stability's anticipated low leverage; (b) the creditworthiness of the European Stability's members, which are also the euro area member states; (c) the sound liquidity and capital management policy with an Early Warning System, which ensures that funds will be available on time; and (d) the European Stability's preferred creditor status.

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