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Article: MOODY'S CONFIRMS ESTONIA'S RATINGS AT A1; OUTLOOK NEGATIVE
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- April 23, 2009
CopyrightCopyright 2009 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Investors Service has today confirmed theforeign and
local currency ratings of the Government of Estonia at A1.The long-
term foreign currency bank deposit ceiling was also confirmed atA1.
The outlook for these ratings was changed to negative. This
ratingaction concludes the review for possible downgrade that was
initiated on10 February 2009. "Moody's has concluded that the
Estonian government's creditworthiness is likely to remain resilient
in the face of a deep and potentiallyprolonged recession," says
Kenneth Orchard, Vice President-Senior Analystin Moody's Sovereign
Risk Group. "The government is working to keep thebudget deficit