Fitch, S&P upgrade Latvia outlook

  • 2011-03-17
  • TBT Staff

RIGA - Two of the world's leading rating agencies, "Fitch" and "Standard & Poor's", both upgraded Latvia's economic outlook as the country continues to pull out of one of Europe's worst economic crises.

"Fitch Ratings" raised Latvia's rating outlook to positive and rated the country at "BBB-" and upgraded its foreign currency deposit ratings (both long-term adn short-term). Last week, S&P's similarly raised the outlook on Latvia from "stable" to "positive".

The increased ratings are a strong indicator that the Latvian economy is stabalizing and will serve to increase investor confidence in the country.