Fitch has revised Estonia's outlook to stable

On Friday, February 5, Fitch Ratings revised Estonia's outlook to Stable from Negative and affirmed the country's rating at 'BBB+'.

"The agency's assessment reflects the growing understanding that Estonia's economy has rapidly adjusted and rather successfully coped with the crisis," said Märten Ross, Deputy Governor of Eesti Pank.

"In Fitch's opinion, the likelihood of joining the euro area has been increased by the flexibility of the economy and the improved budgetary position," he added.

According to Ross, the analysis confirms that in order to ensure Estonia's credibility, the intention to bring the budget into balance and then surplus expressed in the national budget strategy deserves every support.

The rating agency highlighted that Estonia's ratings continue to be supported by strong constitutional institutions, the flexibility of the economy and unblemished debt-servicing record.

The translation of the Fitch press release is published on the web page of Eesti Pank.

Further information:
Viljar Rääsk
Public Relations Office
Telephone: +372 668 0745, +372 527 5055
E-mail: viljar.raask [at] epbe.ee