Fitch: Latvia eurobond BBB-

Fitch Ratings said it assigned a BBB- rating the Republic of Latvia's $1 billion eurobond with a coupon of 5¼% due Feb. 22, 2017.

The rating is in line with Latvia's long-term foreign-currency issuer default rating.

Fitch also said it affirmed Latvia's foreign-currency and local-currency long-term issuer default ratings at BBB- and BBB, respectively.

The outlook was revised to stable from positive.

The outlook revision reflects a sharp deterioration in the 2012 euro zone growth outlook and the global financing environment, Fitch said.

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