Fitch: Estonia view stable

Fitch Ratings said it revised the outlook on the Republic of Estonia's long-term foreign- and local-currency issuer default ratings to stable from negative. The agency also said it affirmed its long-term foreign-currency issuer default rating at BBB+, long-term local-currency issuer default rating at A-, short-term foreign-currency issuer default rating at F2 and country ceiling at A+.

The change to a stable outlook is based on an assessment that the downside risks to Estonia's rating have moderated and are balanced by the increased probability that Estonia could adopt the euro in January 2011, Fitch said.

Estonia looks increasingly likely to meet the Maastricht reference rate for the public finances, which has been the key obstacle to euro adoption, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.