DBRS changes Latvia trend to positive

DBRS said it confirmed the Republic of Latvia’s long-term foreign- and local-currency issuer ratings at A (low) and changed the trend to positive.

“The positive trend on the A (low) ratings reflect DBRS Morningstar’s assessment that the challenges to Latvia’s macroeconomic performance posed by the current health and economic crisis are offset by ongoing credit improvements. Years of prudent fiscal policy allowed officials ample capacity for support measures to offset the shock to the economy brought on by the coronavirus disease (Covid-19). Assuming a durable exit from the pandemic, Latvia’s large crisis-related fiscal deficit is expected to be temporary,” the agency said in a press release.

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