S&P: Estonia stable

Standard & Poor's said it affirmed its long- and short-term sovereign credit ratings on the Republic of Estonia at AA-/A-1+.

At the same time, the agency said it revised the outlook to stable from negative.

The transfer and convertibility assessment for Estonia, as for all euro zone members is AAA, reflecting S&P's view that the likelihood of the European Central Bank restricting nonsovereign access to foreign currency needed for debt service is extremely low. This reflects the full and open access to foreign currency that holders of euro currently enjoy and which S&P expects to remain the case in the foreseeable future.

The ratings are supported by the agency's view of Estonia's stable political environment, demonstrated control over government finances, unleveraged government balance sheet and versatile and flexible economy.

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