The EUROPEAN UNION, rated AAA (Fitch) / Aaa (Moody's) / AA (S&P), has today announced a reduction of its NextGenerationEU funding target for 2021 to €71 billion from previous around €80 billion. This decision has been taken in light of an updated assessment of the payment needs under the NextGenerationEU recovery instrument. On that basis, the Commission does not intend to conduct any further EU-Bond issuances until the end of the year. EU-Bill auctions will continue as previously announced. The diversified funding strategy allows the Commission to cover payment needs under all scenarios. The Commission will communicate its funding target for the first half of 2022 in its next funding plan, which it will publish in December this year. Details Publication date29 October 2021LocationBrussels
