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Credit ratings

The EU is rated AAA/Aaa/AAA/AAA (outlook stable) by Fitch, Moody’s, DBRS and Scope and AA (outlook stable) by Standard & Poor’s.

The EU’s ratings are a reflection of the fact that:

  • borrowings are direct and unconditional obligations of the EU, guaranteed through the EU budget by all EU member states
  • investing in an EU bond is purely linked to the credit quality of the EU and entirely unrelated to the credit risk of the related EU loan to a beneficiary country
  • the debt issued by the EU is backed by several levels of debt-service protection
  • the EU may not borrow to finance a budget deficit of its own
  • by lending funds raised on identical terms, the EU budget does not assume any interest rate, maturity, or foreign exchange risk
Agency Rating
DBRS* AAA/Outlook stable 
Fitch Ratings AAA/Outlook stable 
Moody's Aaa/Outlook stable 
Scope* AAA/Outlook stable 
Standard & Poor's     AA/Outlook stable 
*The DBRS and Scope ratings are delivered on an unsolicited basis.
More details on the EU’s credit ratings can be found in the EU investor presentation.