On 24 July 2020, DBRS Ratings GmbH (DBRS Morningstar) confirmed the European Stability Mechanism’s (ESM) Long-Term Issuer Rating at AAA and Short-Term Issuer Rating at R-1 (high). The trend on both ratings is Stable. DBRS Morningstar rates the ESM on the basis of its Support Assessment and its Intrinsic Assessment.
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