Moody's: Estonia is resilient, robust

Moody's Investors Service said it said in a new report that Estonia's Aa1 foreign-currency bond ceiling and A1 local- and foreign-currency government bond ratings are supported by its high economic resiliency and high financial robustness.

The outlook is stable.

A consistently prudent economic policy framework has contributed to the building of a strong government balance sheet, characterized by minimal debt and substantial assets, the agency said.

Although an ongoing economic slowdown and pronounced external imbalances raise some concerns, these are mitigated by a foreign-bank-dominated financial system, Moody's said.

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