Credit rating agency Fitch is keeping Finland's long-term state debt credit level at AA+, the second best rating that Finland was knocked down to in March.
Fitch rated Finland's outlook as stable, saying that its ratings are underpinned by strong political institutions and a track record of sound macroeconomic policy management. Unlike other Nordic countries, it says that household indebtedness in Finland is relatively moderate, at around 120 percent of GDP.
In terms of weaknesses, the agency says that real GDP growth has been sluggish due to sector-specific shocks. A loss of competitiveness and an aging working-age population have also been noted as problems.
Lastly, as a small and open economy, Finland is prone to higher volatility than the rating peer median, the agency says, making the country more vulnerable to external shocks.
All three of the world's top credit raters have now awarded Finland their second-best ratings. Moody's gives the country Aa1 (dropped from Aaa in June), while Standard & Poor's has rated Finland's creditworthiness at AA+ for an even longer period.