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S&P lowers Estonia view to stable
Standard & Poor's said it revised its outlook on the Republic of Estonia to stable from positive on delayed EMU membership prospects.
At the same time, the A long-term and A-1 short-term sovereign credit ratings on Estonia were affirmed, the agency said, noting that the near-term prospects for Estonian EMU accession have receded, due to the higher inflationary trend rooted in buoyant domestic demand as well as in higher-than-expected global energy prices.
Nevertheless, the ratings on Estonia remain supported by a strong track record on fiscal control, a competitive economy and the prospect of adopting the euro by 2010, S&P added.
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