Credit ratings agency Moody’s has said that the outlook for Finland is stable, although the nation will still face some challenges.
Moody’s officials said this week that the evaluation comes partly as a result of recent collateral agreements between the Scandinavian country and both Greece and Spain in exchange for its participation in European bailouts amid the euro crisis. The latter deal was struck last week, while the Greek deal is now about nine months old.
Experts also noted that Finland benefits from insulation from eurozone financial woes thanks to its diversified exports. Only around a third of all goods exported from Finland are bound for European countries. Moreover, the country’s domestic-centred banking sector also earned high praise from the creditor.
Despite the positive outlook, however, Moody’s officials said that Finland’s economy and public sector would continue to see some degree of pressure from Europe’s ongoing fiasco.
Meanwhile, outlooks for the Netherlands, Luxembourg and Germany were lowered this week, although the agency said they will retain their triple-A ratings for now.