On Thursday, February 10, Standard & Poor's Ratings Services revised the outlook
of Estonia's sovereign rating to Stable from Negative and affirmed the country's rating
at A-.
"The decision of Standard & Poor's proves once
again that the impact of the global crisis is passing in Estonia and foreign observers also see our economy
as regaining balance. The development of our ratings is now more dependent on the so-called normal factors,
such as our ability to increase productivity and to continue pursuing conservative fiscal policy," said
Märten Ross, Deputy Governor of Eesti Pank.
"The rating agency is of the
opinion that euro-area membership would reduce Estonia's vulnerabilities, assuming that the financial
behaviour of the public and private sector would not loosen," the Deputy Governor
added.
Standard & Poor's noted in their decision that Estonia's labour
and goods market have reacted swiftly to the changed economic environment, external
imbalances are shrinking and the government has been successful in stabilising public
finances.
Last week Fitch Ratings revised Estonia's outlook to
Stable from Negative and affirmed the country's rating
at 'BBB+'.
The S & P's press release is published on
the
web page of Eesti Pank.
