Rising general government debt, high fiscal deficits and a modest growth outlook drive the outlook change. A wealthy economy, high net financial assets, and effective institutions remain credit strengths.

Finland's wealthy economy, high net financial assets and government debt affordability, and effective institutions are credit strengths. Rising fiscal pressures, a moderate growth potential and exposure to financial stability risks are challenges.

Finland's wealthy economy, high government debt affordability and effective institutions are credit strengths. Rising fiscal pressures, a moderate growth potential and exposure to financial stability risks are challenges.

Finland's wealthy economy, high government debt affordability and effective institutions are credit strengths. A moderate growth potential, rising fiscal pressures and exposure to financial stability risks are challenges.

Finland’s wealthy and resilient economy, high government debt affordability and effective institutions are credit strengths. A moderate growth potential, fiscal pressures from an ageing population and financial stability risks are challenges.

Finland’s wealthy and resilient economy, high government debt affordability and effective institutions are credit strengths. A moderate growth potential, fiscal pressures from an ageing population and financial stability risks are challenges.

Declining levels of public debt, high debt affordability and improved external competitiveness are credit strengths. Rating constraints include low potential growth, fiscal costs of ageing demographics, and risks in the Finnish banking sector.