18.10.2013

Standard & Poor’s affirms AAA rating for Finland

Credit rating agency commends Finnish government’s prudent fiscal policy record and commitment to reforms.

The credit rating agency Standard & Poor’s has affirmed the best possible AAA rating for the State of Finland’s long- and short-term foreign and local currency debt. Finland currently also has the best possible ratings from Moody’s (Aaa) and Fitch Ratings (AAA). Standard & Poor’s considers Finland’s credit rating outlook to be stable.

Standard & Poor’s ratings reflect its view of Finland’s wealthy economy and the government's prudent fiscal policy record, both of which have supported high levels of prosperity and a strong general government balance sheet. Standard & Poor’s believes that Finnish policymakers will remain committed to pursuing fiscal and structural reforms, and that policymaking will remain prudent, transparent, and consensus-based.

Stable outlook

According to Standard & Poor’s statement, “The stable outlook balances our view of Finland’s high level of prosperity, strong government balance sheet, and broad-based commitment to prudent economic policies against growing external indebtedness, and more-challenging demographics.”

In August 2013, Finland’s six-member coalition government announced a structural reform package in the region of 4.5% of estimated 2013 GDP, to be implemented by 2017. The program aims at improving the sustainability of government finances by taking steps to improve productivity, employment, and potential growth.

Source: Standard & Poor’s, Ministry of Finance