S&P lifts Latvia long-term rating to BBB+

Standard & Poor's said it raised to BBB+ from BBB its long-term foreign and local currency sovereign credit ratings on the Republic of Latvia.

At the same time, S&P affirmed the A-2 short-term ratings on Latvia.

The outlook is stable.

The upgrade reflects S&P's assessment that euro zone membership would have a positive impact on the government's creditworthiness by mitigating foreign exchange risks and providing the Latvian banking system with access to the European Central Bank as a lender of last resort and general provider of liquidity.

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