Moody's raises outlook for European Union to stable

WASHINGTON: Moody's raised its rating outlook for the European Union to stable from negative Friday, citing the improvement of its members' finances and falling risks from the eurozone debt crisis.

The main reason for the change is "the improvement in the credit standing of the largest shareholders that the EU relies on" in crises, including the improved ratings of Belgium, Germany, Italy, the Netherlands and Spain, Moody's said.