Eurozone bail-out fund loses triple-A rating

The European Financial Stability Facility (EFSF), the Eurozone's bail-out fund, was downgraded by one point to AA+ by the US ratings agency Standard & Poor's on the 16 January 2012. The move was likely to lower the effectiveness of the fund, unless contributing countries stepped up their loan guarantees to the facility.

• Primary Source

ESO: Background information: European Financial Stability Facility (EFSF) http://www.europeansources.info/record/website-european-financial-stability-facility-efsf/

ESO: Background information: Monti calls for boost to eurozone bail-out firepower http://www.europeansources.info/record/monti-calls-for-boost-to-eurozone-bail-out-firepower/

ESO: Background information: Merkel says eurozone must act fast http://www.europeansources.info/record/merkel-says-eurozone-must-act-fast/

EFSF: Press Release, 16.1.12: EFSF statement following Standard & Poor’s decision to downgrade its long-term rating http://www.efsf.europa.eu/mediacentre/news/2012/2012-03-efsf-statement-following-standard--poors-decision-to-downgrade-its-long-term-rating.htm

BBC News, 16.1.12: Standard & Poor's downgrades EU bailout fund EFSF http://www.bbc.co.uk/news/business-16586807

Deutsche Welle, 17.1.12: Markets snap up new bonds of downgraded Euro rescue fund http://www.dw-world.de/dw/article/0,,15671676,00.html

Spiegel Online International, 17.1.12: 'Ratings Agencies Are Not Responsible for Crisis' http://www.spiegel.de/international/europe/0,1518,809601,00.html

EurActiv, 17.1.12: Rescue fund’s credit rating drop adds to euro woes http://www.euractiv.com/euro-finance/markets-anticipated-rescue-fund-credit-rating-drop-news-510188

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