Moody's withdraws Estonia's country ceilings
On Wednesday, Moody's Investors Service withdrew country ceilings for foreign and local currency bonds issued in Estonia and for bank deposits. This is in line with Moody's past practice for countries that have joined the euro area.
In Moody's opinion, the negligible risk of a moratorium now being imposed in Estonia, as in other euro-area members, is reflected by the euro areas regional Aaa ceilings for bonds and bank deposits.
This means that sovereign ratings given to Estonia no longer restrict the ratings of companies.
Estonia's local and foreign currency government bond ratings remain in place and are unchanged at A1 with a stable outlook.
The English version of Moody's press release is available on the web site of Eesti Pank.
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