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Finland is losing its fight to regain AAA status

An outspoken proponent of austerity during Europe’s debt crisis is now struggling to defend its own credit rating.

Finland's prime minister, 34-year-old Sanna Marin | Photo: Denis Balibouse/REUTERS / X90072

Finland, the only Nordic country that’s in the euro zone, had hoped to regain its AAA rating this month. But instead of being reinstated, Fitch Ratings Inc. cut the outlook on its AA+ rating to stable from positive on Friday.

The question now is whether more downgrades will come. Jan von Gerich, chief analyst at Nordea Bank Abp in Helsinki, says S&P Global Ratings, which currently has a stable outlook on its AA+ rating of Finland, may follow Fitch as soon as March.

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