Moody’s cuts Finland’s AAA rating

AFP, WASHINGTON: Moody’s became the third rating agency to remove Finland’s top-flight AAA credit rating Friday, saying it sees no improvement in the country’s debt challenge over the coming five years.
Moody’s cut the Nordic country’s rating by one notch to Aa1 following similar moves by rival rating agencies Fitch and S&P in 2014 and 2015.
The Finnish economy faces weak growth over the coming years that will reduce its resilience to potential shocks, Moody’s said.
Without economic improvement, the agency added, it foresees a deteriorating fiscal position “with no material reversal in the upward trend in the public sector debt burden likely in the next five years.”

Moodys cuts Finlands AAA rating

AFP, WASHINGTON: Moodys became the third rating agency to remove Finlands top-flight AAA credit rating Friday, saying it sees no improvement in the countrys debt challenge over the coming five years. Moodys cut the Nordic countrys rating by one notch to Aa1 following similar moves by rival rating agencies Fitch and SP in 2014 and 2015. The Finnish economy faces weak growth over the coming years that will reduce its resilience to potential shocks, Moodys said. Without economic improvement, the agency added, it foresees a deteriorating fiscal position with no material reversal in the upward trend in the public sector debt burden likely in the next five years.