Fitch Ratings devalue Baltic economies

Oct 09, 2008
By Matt Withers

TALLINN - The ratings agency Fitch has downgraded the long-term foreign and local currency ratings, as well as the country ceilings, of all three Baltic states. Fitch announced the downgrade Friday, Oct. 3, citing concerns over the countries’ current account deficits as the primary reason for the one-point drop in ratings. Fitch downgraded Estonia and Lithuania’s foreign currency ratings from A to A- and Latvia’s from BBB+ to BBB. “The downgrade of the Baltic states reflects the risk that the ...

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