Finland lost the Moody's AAA rating. See you at the bottom of the barrel greece. Now it is time to pay denbts.
ft.com
>Moody’s late on Friday cut Finland’s credit rating, becoming the third major ratings agency to strip the country of its top-notch status.
>The New York-based group sliced its rating on Finland by one notch to “Aa1″, from “Aaa”, the highest level. Moody’s cited “significant economic challenges” for the European country that may reduce its “resilience to future shocks”.
>Standard & Poor’s lowered its rating from “AAA” to “AA+” in 2014, while Fitch made the same move this March, according to data from Bloomberg.
>The country’s debt to gross domestic product ratio has risen from 34 per cent in 2007, to 60 per cent in 2015, and may climb as high as 67 per cent by 2018, Moody’s warned on Friday.
>The country’s economy has suffered from a “decline in the electronics and paper production industries, and to a broader reduction in cost competitiveness, which together contributed to a pronounced fall in Finland’s export market share,” Moody’s added.
>Moody’s adjusted its outlook on Finland to “stable” from “negative” as part of Friday’s move.
