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Sun, 05 Oct, 2014 12:01:22 AM FTimes Report, Oct. 5  File Photo – AFP / Lehtikuva. International credit-rating agency Moody’s has refrained from updating Finland’s credit rating.
Minister of Finance Antti Rinne on Saturday termed the gesture a good signal. The fact that Moody’s did not update Finland’s credit rating is a positive development from Finland’s perspective, he told the state broadcasting company YLE.
Moody’s affirmed Finland’s triple A (AAA) rating in July but said the rating was an updated on an earlier credit analysis.
The rating was expected to be issued on Friday, but Moody’s announced on its website that it would not update Finland’s credit analysis. The rating agency plans to weigh Finland’s credit rating in the next round.
In early September, the rating agency issued a negative outlook on Finland’s banking system.
Last week, Fitch Ratings affirmed Finland’s long-term foreign and local currency Issuer Default Ratings (IDR) at AAA and considered the country’s credit-rating outlook stable.
Another international credit rating agency, Standard & Poor’s, is expected to issue its assessment next week.
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