The EU is legally bound by the Treaty on the Functioning of the EU (Article 323) to service interest and principal payments to investors arising from the issuance of EU-Bills and EU-Bonds. EU borrowing is hence a direct and unconditional obligation of the EU.
EU-Bonds are of the highest credit quality thanks to the backing of the EU budget and additional budgetary resources or guarantees that underpin the different EU programmes financed by bond issuance.
The EU is rated AAA by Fitch, Moody's, Scope, DBRS and KBRA and AA+ by S&P Global Ratings.
| Rating Agency | Long-term Rating | Short-term Rating | Outlook | Latest rating reports* |
|---|---|---|---|---|
| Fitch Ratings | AAA | F1+ | Stable | Rating update, February 2025 |
| Moody's | Aaa | (P)P-1 | Stable | Credit Opinion, November 2024 |
| Scope | AAA | S-1+ | Stable | Rating action, October 2024 |
| S&P Global Ratings | AA+ | A-1+ | Stable | Research update, May 2024 |
| DBRS** | AAA | R-1 (high) | Stable | |
| KBRA** | AAA | K1+ | Stable |
*From solicited ratings \ **Unsolicited ratings
Disclaimer: The ratings provided are the opinions of credit rating agencies and the content of the documents are the sole responsibility of the credit rating agencies. The information published on this website is intended for general information only. Publication of the latest available information and report may be subject to delays. Ratings are based on the individual methodologies applied by rating agencies.
More information on budgetary safeguards protecting investors in EU-Bills and EU-Bonds can be found on our dedicated factsheet here
Further details about the EU as an issuer are available in our Investor Presentation.