Fitch changes Finland to positive

Fitch Ratings said it revised the outlook on Finland's long-term foreign-currency issuer default rating to positive from stable.

Fitch also affirmed the issuer default rating at AA+.

The agency said the revision of the outlook reflects that Finland’s public debt dynamics have improved since its gross general government debt to GDP ratio peaked at 63.5% in 2015, with Fitch forecasting the ratio to fall to 59.6% in 2018, and to 53.4% by 2027.

“Although GGGD/GDP is still higher than the historical AA and AAA medians of 39.2% and 44.8%, respectively, the continuing downward trajectory represents a material improvement compared with expectations when we downgraded the rating in March 2016,” Fitch said in a news release.

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