NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases research in response to the European Union’s (EU) surprise agreement to borrow and spend centrally in a EUR750 billion recovery fund. In KBRA’s view, this is a positive for sovereign creditors and a further sign of Europe’s relative success in managing the destructive effects of the pandemic.
KBRA believes the recovery fund breakthrough, which still needs to be approved by the European Parliament and the individual EU27 member states, would set an important precedent as it would:
- Strengthen Europe’s monetary union and the viability of the euro, reducing existential risks.
- Pave the way for further meaningful centralized intervention in future crises.
- Prove the forces holding the EU together are powerful.
- Provide a counterbalance to the more destructive tendencies of nationalism.
Meanwhile, success in bringing the virus under control is driving improved consumer and commercial confidence across the continent.
Click here to view the report.
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.
Contacts
Van B. Hesser, Chief Strategist, Strategy
+1 (646) 731-2305
[email protected]
Joan Feldbaum-Vidra, Managing Director
+1 (646) 731-2362
[email protected]
Alan Madden, Director
+353 1 588 1230
[email protected]
Business Development
Mauricio Noé, Senior Managing Director, Head of Europe
+ 44 208 148 1010
[email protected]
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