S&P affirms Estonia

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

The outlook is stable.

S&P said the ratings are supported by S&P’s view of Estonia’s stable political environment, generally effective institutional framework, prudent government finances, and highly adaptable economy.

The ratings are constrained by Estonia's relatively moderate income levels compared to European Economic and Monetary Union (euro zone) peers, the agency said.

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