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Fitch keeps Estonia foreign, local currency credit ratings at A+

Xinhua, November 21, 2016 Adjust font size:

Estonia's long-term foreign and local currency issuer default ratings (IDR) were kept at A+ with a stable outlook by international ratings agency Fitch Ratings, the local media reported on Monday.

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, Fitch was quoted by Estonian Public Broadcasting as saying in a press release on Friday.

Supported by private consumption, economic growth of Estonia's main trade partners and utilization of European Union support, Estonia's economy is expected to grow 1.3 percent this year, 2.5 percent in 2017 and 2.8 percent in 2018, Fitch expected.

Fitch Ratings Inc. is one of three big credit rating agencies alongside Moody's and Standard & Poor's, which jointly hold a collective global market share of approximately 95 percent. Endit