LV: Fitch rates Latvias bonds at BBB.

By bne IntelliNews December 10, 2012
Fitch Ratings rated Latvias recent issue of 7-year Eurobonds at BBB, Reuters reports. The rating is in line with the sovereign rating of BBB/Positive that was upgraded by Fitch from BBB- in October. To remind, last week Latvia successfully placed USD 1.25bn worth of 7-year Eurobonds yielding 2.889%, which makes the lowest yield in the history of borrowing abroad. Barclays, Deutsche Bank, and JP Morgan organised the issue. Demand for Latvias Eurobond issue ek stood at USD 5.1bn. FinMin Andris Vilks commented that along with recent improvement of the credit rating Latvia got an opportunity to refinance its debt on the international markets, at interest lower than that granted by EC/IMF during the crisis support loan package. To remind, this year in February Latvia already issued 5-year Eurobonds worth USD 1bn yielding 5.375%.

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