FITCH affirms ESTONIA at 'A+'; Outlook Stable

Fitch Ratings has affirmed Estonia's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'A+'. The Outlooks are Stable. The Country Ceiling has been affirmed at 'AAA' and the Short-term foreign currency IDR at 'F1'. KEY RATING DRIVERS Estonia's ratings are underpinned by its strong public finances, economic policy framework and governance indicators. Euro membership reduces substantially the risk of balance-of-payments crises. Public finances are a key credit strength. Estonia's government debt-to-GDP ratio of 10% is by far the lowest in the European Union, and is well below the 'A+' median.

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