Estonia’s Rating Raised to AA- by S&P on Growth, Finances

Estonia’s credit rating was raised by Standard & Poor’s Ratings to the second-highest level in eastern Europe on the Baltic country’s strong economic growth and solid public finances.

The long-term foreign and local currency bond rating was increased by two notches to AA-, the fourth-highest investment grade, from A, S&P said today in an e-mailed statement. The outlook was lowered to stable. S&P rates Slovenia AA and Slovakia, the third eastern European euro member, A+.