TALLINN — The benefits of eurozone admission are already hitting Estonia via credit ratings, something the Baltic states struggled with just a year ago while navigating through the crisis’ austerity measures.

Citing the country’s newly-announced admission to the eurozone last week, the Fitch international ratings agency upgraded Estonian’s currency issuer rating this week two notches from BBB+ to A.

The country’s rating outlook was also increased to stable.

Bank of Estonia Vice President Märten Rossi welcomed the decision, telling the the Äripäev business newspaper that “the agency pointed out that the exemplary state of public finances and economic flexibility make Estonia well-suited to join the currency union. However, Estonia should take further action to ensure Estonian finances stay within the criteria of the currency union and improve the sustainability of public finances.”

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