S&P ups Estonia

Standard & Poor's said it raised its long-term sovereign credit ratings on the Republic of Estonia to A from A- due to the country's robust economic growth perspectives, the sustained strength of its public finances and its growing prospect of joining the European Economic and Monetary Union.

At the same time, the short-term ratings on Estonia were raised to A-1 from A-2. The outlook is stable.

S&P said a track record of fiscal prudence and sustained robust growth make Estonia one of the most advanced candidates for full membership of EMU.

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