Fitch upgrades Estonia’s state rating outlook

International rating agency Fitch upgraded Estonia’s state rating outlook from negative to stable on Friday; the rating was confirmed at BBB+, Äripäev Online reported through Leta.“The evaluation of the agency today reflects the expanding understanding that the Estonian economy has adapted fast and managed with the effects of the crisis quite well,” said Bank of Estonia deputy president Märten Ross.“The flexibility of the economy and strengthened budgetary position has, according to the rating agency, improved the likelihood of us joining the Euro zone too,” he added.The agency pointed out in its decision that Estonia’s rating continues to be supported by strong constitutional institutions, flexibility of economy and excellent history of loan servicing.Related posts:Fitch Ratings Downgraded Estonia, Latvia and LithuaniaFitch: Estonia likely to adopt euro in 2012“European Central Bank Should Say NO to Euro in Estonia”