EWD - Sweden AAA rating affirmed by Fitch; outlook stable

Fitch Ratings affirms Sweden's long-term foreign-currency issuer default rating at AAA, the highest grade rating for debt.The rating is "consistent with a long record of flexible and effective policymaking, underpinned by strong institutions and very high governance indicators," Fitch said.Fitch expects Sweden's real GDP will decline 3.8% this year, smaller than the agency's 6.3% drop it forecast in June.Sees Sweden's GDP rising 3.4% in 2021 and 2.7% in 2022, "mainly driven by domestic demand, reflecting base effects and the unwinding of accumulated household savings, boosting private consumption."Persisting uncertainty over global developments will likely drag on investment growth, Fitch said, and a surge in COVID-19 infections and new social distancing restrictions increase uncertainty around the recovery.ETFs: [[EWD]]

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Sweden AAA rating affirmed by Fitch; outlook stable