Fitch upgrades Latvia

Fitch Ratings said it upgraded Latvia's long-term foreign currency issuer default rating to BBB+ from BBB, short-term foreign currency issuer default rating to F2 from F3 and country ceiling to AAA from A.

The outlooks are stable.

At the same time, the agency affirmed the long-term local currency issuer default rating at BBB+.

Fitch said the upgrade follows the announcement of Ecofin's decision today to invite Latvia to join the eurozone on Jan. 1, 2014, and reflects the following key rating drivers and their relative weights:

© 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.