World Economy

Finland Stable at Triple-A

Finland Stable at Triple-AFinland Stable at Triple-A

Moody’s gave no update on Finland’s credit rating, leaving the recession hit Nordic country among the few eurozone members with two top notch triple-A ratings, Reuters reported. Finland’s economy has yet to return to its 2008 output levels because of a string of setbacks, including the decline of Nokia’s former phone business and recession in neighboring Russia. Markets were expecting Moody’s to downgrade Finland’s rating to AA+. Standard & Poor’s cut Finland to AA+ already in 2014, and it now has a negative outlook for that rating. Fitch still rates the economy AAA, with a negative outlook.