LV: Fitch upgrades Latvia's rating outlook to Stable.

By bne IntelliNews September 6, 2010
Fitch Ratings upgraded the outlook on Latvia's credit ratings from Negative to Stable, FinMin informed. ¬Agency attributed the upgrade to improvement of the financial and economic situation in the country, as well as positive tendencies of external liquidity indicators. Fitch welcomed current account surplus reaching 9.8% of GDP in 2009 vs. 22% deficit in 2007, as well as noted successful budget consolidation efforts that helped to keep budget deficit within 9% of GDP last year. Agency believes that this year target 8.5% budget deficit will be achieved. Fitch currently rates Latvia at BB+.

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