Credit rating agency Fitch affirmed Latvia long term foreign and local currency sovereign credit ratings at 'A-'
Fitch informed, that Latvia credit rating in 'A' group (good and reliable bond issuer) remain supported its institutional strengths and more favourable fiscal position relative to ‘A’ rated peers. Comparison with 2015, Fitch significant improves the balanced state budget.
Latvia’s economy grew 2.0% in 2016, below the ‘A’ median of 2.7% but slightly above the Eurozone average (1.8%) For 2017, Fitch forecasts growth to rise to 2.6% due to a rebound in investment stemming from a recovery in use of European Union funds after delay in absorption in 2016.
The ratings are constrained by comparatively low income levels, below the ‘A’ median, demographic challenges in the long term and weaker external finances.
The same decision from Fitch was on November 4, 2016, when the agency repeatedly affirmed its 'A-' long term foreign and local currency sovereign credit ratings with stable outlook.
Full press release in Fitch homepage https://www.fitchratings.com.