Coding system for output of "svn cat"

Hi list!

I couldn't find any information about this in the Subversion book or the
built-in documentation.

What is the EOL encoding of text files spit out by the svn cat command?
Does it depend on the svn:eol-style property?

I'm trying to improve the contributed psvn.el mode and need to figure
out how to get rid of extra ^M characters at the end of every line when
checking out an older revision (which uses svn cat internally) and
comparing it with the working copy.

Thanks in advance and kind regards,
André

-- 
Greetings...
From: Andre Colomb <acolomb_at_schickhardt.org>