Fitch affirms Estonia's rating at A+

Fitch ratings. (AFP/Scanpix)
11/21/2016 11:30 AM
Source: BNS
Category: Business

International ratings agency Fitch Ratings affirmed Estonia's long-term foreign and local currency issuer default ratings (IDR) at A+ with a stable outlook on Friday, the agency said in a press release.

Estonia's ratings are supported by a strong sovereign balance sheet, a sound macroeconomic policy framework as well as strong governance indicators compared with rated peers, the agency said.

Fitch expects Estonia's economy to grow 1.3 percent this year, 2.5 percent in 2017 and 2.8 percent in 2018. Economic growth acceleration is to be supported by private consumption, economic growth of Estonia's main trade partners and utilization of EU support.

Fitch Ratings Inc. is one of the Big Three credit rating agencies alongside Moody's and Standard & Poor's. Together the three hold a collective global market share of approximately 95 percent.

Fitch upgraded Estonia to an A+ rating in 2011.

Editor: Aili Vahtla

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