Fitch affirms Estonia

Fitch Ratings said it affirmed Estonia's long-term foreign and local currency issuer default ratings at A+ with stable outlooks.

The agency said it also affirmed the short-term foreign currency rating at F1 and country ceiling at AAA.

"The affirmation of Estonia's sovereign ratings with stable outlooks reflect the country's near seamless transition to full membership of the eurozone starting on 1 January 2011, coupled with a more balanced economic recovery and the continued deleveraging of the private sector," said Paul Rawkins, senior director in Fitch's sovereign ratings group, in a news release.

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