Moody's cuts Latvenergo

Moody's Investors Service said it has downgraded Latvenergo's issuer rating to Baa3 from Baa1.

The outlook remains negative.

At the same time, Moody's said it has lowered Latvenergo's baseline credit assessment to 11 from 10.

The downgrade follows an earlier decision by Moody's to downgrade the Government of Latvia's local currency rating to Baa3 from Baa1, the agency said, noting that the outlook for Latvenergo's Baa3 issuer rating is negative, reflecting the negative outlook assigned to the Government of Latvia's rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.