Moody's: Euro's appreciation against the sterling is credit negative for European SMEs
London, 13 December 2016-- Appreciation of the euro versus the pound is slightly credit negative for Italian, Spanish and Belgian asset-backed securities backed by loans to small and medium-sized enterprises, says Moody's Investors Service. The pound lost 15% against the euro between September 2015 and September 2016, and is expected to remain weak in 2017.. "UK-dependency is minimal in the three major continental European SME ABS markets of Italy, Spain and Belgium.
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