Moody's downgrades Latvian, Estonian debt

Sep 05, 2007
By Mike Collier

LONDON - Moody's Investors Service downgraded both Estonia’s and Latvia’s long-term foreign and local currency debt ratings Sep. 12 in a move likely to increase investor worries about the economic prospects of the Baltic region. Both ratings were switched from ‘positive’ to ‘stable’. The changes were prompted by “worsening macroeconomic imbalances that have eroded the upside potential for the sovereign ratings of both countries in the foreseeable future,” Moody’s said, adding that persistentl ...

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