Moody's adjusts country ceilings

Moody's Investors Service said it adjusted the local currency country risk and foreign currency bond and deposit ceilings for Estonia, Malta and Slovakia.

The sovereign ratings of these countries are unaffected by these changes.

The agency said it changed Estonia's long-term foreign currency bond and deposit ceilings, as well as the local currency country risk ceiling to Aa2 from Aaa.

The agency also changed Malta's long-term foreign currency bond and deposit ceilings and its local currency country risk ceiling to A1 from Aaa.

Finally, Moody's changed Slovakia's long-term foreign currency bond and deposit ceilings and its local currency country risk ceiling to Aa2 from Aaa.

The short-term foreign currency bond and deposit ceilings on all three countries remain unchanged at P-1.

Moody's said its decision to readjust the country ceilings for Estonia, Malta and Slovakia is based on the rating agency's assessment of the elevated risk for economic and financial dislocations in the euro area, which calls for differentiated ceilings in the euro area based on country-specific factors.

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