Moody's revises EU outlook to stable

(MENAFN) Moody's increased its rating outlook for the European Union from negative to stable, The Peninsula Qatar reported



The rating agency said that improvement of finances of member states was the reason behind the rating increase



Moody's affirmed the EU's top-flight Aaa rating stating that "improvement in the credit standing of the largest shareholders that the EU relies on" was the main drive leading to the revise



Earlier this month, Moody's had increased the rating of Netherlands, Belgium and Germany, all Aaa, from negative to stable