Finland retains its AAA credit rating
American credit rating agency Standard & Poor's has affirmed Finland’s AAA rating for long-term and short-term credit. However, the outlook for the long-term rating is negative, according to Finland’s Ministry of Finance.
Finland’s rating suffers from insufficient policy initiatives of European political institutions. Standard & Poor's is critical of EU decision making and actions to solve the eurozone crisis.
The credit rating agency cites a competitive economy, the government’s responsible handling of the state economy and balanced public finances as Finland’s strengths. According to S&P, Finland’s actions have served to counterbalance weak European decision making.
However, Standard & Poor's notes that a negative outlook may lower Finland’s long-term credit rating in 2012 or 2013.
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