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Credit rating agency Moody`s affirmed Latvia long term foreign and local currency sovereign credit ratings at 'A3'

Created : 17.07.2017. Updated: 30.10.2017.
On Friday, July 14, the international credit rating agency Moody`s affirmed its 'A3' long term foreign and local currency sovereign credit ratings on the Republic of Latvia. The outlook is set stable.

Moody`s informed, that Latvia credit rating in 'A' group (good and reliable bond issuer) remain supported by resilience and flexibility of economy and prudent fiscal policy. The stable outlook on the rating balances the country’s economic resilience and sound policymaking, against the presence of geopolitical risks in the region.

After Latvia’s economy moderate growth in 2016, Moody's expects the economy to accelerate in 2017 and 2018, well above the expected growth in the euro area, due to robust private consumption and European Union funds absorption.

Moody`s points out, that credit rating would arise from an increase in potential economic growth and a faster-than-expected debt reduction along with a broadening of the country's tax base.

The previous credit rating agencies announcement was on April 28, when international rating agency Fitch affirmed Latvian credit rating for long-term local and foreign currency retention of “A-“ with stable outlook.

Full press release in Moody`s homepage