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EFSF statement following Standard & Poor’s decision to downgrade its long-term rating

Press releases
EFSF

Luxembourg – EFSF takes note of the decision by Standard and Poor's to downgrade the EFSF's long-term rating to AA+.

At the same time, Standard and Poor's also affirms that the EFSF's short term rating remains unchanged at the highest possible level of A-1+.

EFSF continues to be assigned the best possible long-term and short-term credit rating by Moody’s (Aaa) and Fitch (AAA) underlining the solidity of EFSF. Neither rating agency has indicated any rating action for EFSF in the immediate future.

Klaus Regling, CEO of EFSF stated “The downgrade to 'AA+' by only one credit agency will not reduce EFSF’s lending capacity of €440 billion. EFSF has sufficient means to fulfill its commitments under current and potential future adjustment programmes until the ESM becomes operational in July 2012.”

EFSF has become a well-established signature in the supranational bond market. It can rely on an investor base which is well diversified in terms of both geographical region and investor type. EFSF will continue to be a quality issuer backed by unconditional and irrevocable guarantees by all euro area Member States.

Contacts

Head of Communications and Chief Spokesperson
+352 260 962 205

Deputy Head of Communications and Deputy Chief Spokesperson
+352 260 962 551

Principal Speechwriter and Principal Spokesperson
+352 260 962 654

Senior Financial Spokesperson
+352 260 962 232