Moody's Investors Service has cut the outlook for the credit rating of the
European Financial Stability Facility (EFSF) to negative from stable, warning that the
rescue fund would lose its Aaa rating.
The EFSF, which totaled 780 billion euros and had a lending capacity of 440 billion euros, was financed by members of the Eurozone.
Its main objective is to maintain stability in Europe by
providing financial aid to euro zone member countries.
The rating agency said the action followed its downgrade move of three European countries' credit outlook on Monday, reported
Xinhua.
Moody's cut Germany, the Netherlands and Luxembourg's credit rating outlook from stable to negative - all three countries are guarantors for the EFSF, with Germany accounting for largest share of nearly 30 per cent.
With inputs from IANS 
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