March 27, 2017 / 5:26 PM / 8 months ago

BRIEF-S&P says European Central Bank ratings affirmed; outlook stable

March 27 (Reuters) - S&P on European Central Bank :

* Says European Central Bank ratings affirmed at ‘AAA/A-1+'; outlook stable

* S&P says “in our view, the ECB has extensive monetary flexibility and its eurozone members have, on average, high sovereign credit ratings”

* S&P says stable outlook reflects view that factors supporting ECB’s ratings will remain in place over the next two years, at least

* S&P says ECB’s very high monetary policy flexibility is supported by euro’s role and free-floating exchange rate regime

* S&P on European Central Bank - euro has been a free-floating currency since its introduction and “we do not expect this policy to change”

* S&P says ECB’s very high monetary policy flexibility is also supported by the credibility and effectiveness of the central bank’s monetary policy

* S&P on European Central Bank - expect the bank will “successfully” maintain price stability over the medium-to-longer term

* S&P says could consider lowering the ratings if we considered that the ecb’s monetary flexibility was decreasing

* S&P says ECB's QE program will not mutualize potential losses arising from program, instead, 4/5th of QE purchases will stay on central banks' balance sheets Source text : (

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