Fitch affirms EU, Euratom ratings at 'AAA' with stable outlooks

By Ovunc Kutlu

ISTANBUL (AA) - Fitch Ratings said Monday it affirmed the ratings of the EU and European Atomic Energy Community, Euratom, at "AAA" with stable outlooks.

The affirmation of ratings and stable outlooks reflect member states' strong commitment to provide financial support to the EU, the rating agency said in a statement.

The EU's "AAA" rating is resilient to its debt increase since it is matched by a significant increase in resources from the member states, it said, adding the rating approach for Euratom is aligned with that of the EU.

The agency, however, warned that an actual or projected decline in the additional contributions from member states could lead to a negative rating action or downgrade.

The "AAA" rating is the highest level on Fitch's scale.