LV: Latvias ratings to be upgraded in nearest future-PM.

By bne IntelliNews February 8, 2010
As argued by PM Valdis Dombrovskis, Latvia s international credit ratings are to increase step-by-step in the nearest future. PM admitted that the fact that two out of three international rating agencies are rating Latvia below the investment grade level explains the problems with raising finance, but reminded that recently Moodys allowed for upgrading its outlook on Latvias ratings from Negative to Stable. Dombrovskis also noted recent S&Ps positive acknowledgement of governments budget consolidation efforts. Currently Moodys foreign and local currency rating for Latvia is Baa3 (outlook Negative), Fitch rates long-term foreign currency liabilities at BB+ and local currency at BBB (Negative outlook), while S&Ps credit rating is BB (Negative outlook).  

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