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Credit rating agency Fitch Ratings has affirmed Latvia's Ratings 06.11.2016

On Friday, November 4, the international credit rating agency Fitch Ratings has affirmed Latvia's Long-term foreign and local currency Issuer Default Ratings at 'A-' with Stable outlook.

Credit rating agency positively estimates Latvia’s institutional strengths and a stable political situation. Low government debt ratio, general government deficit and fiscal policy compliance is relative to 'A' group peers. Because of the above-mentioned factors, Latvia`s credit rating is assessed in "A-" level.

Economic growth in half year 2016 performed below Fitch Ratings expectations because of slower rate of absorption of EU funds.

The main risk factors that could trigger negative rating action are deterioration in Latvia's public debt dynamics, for example, from sustained fiscal slippage or economic underperformance and deterioration in external finances.

The main factors that could trigger positive rating action are persistent strong and stable economic growth that fosters higher income per capita without the re-emergence of macroeconomic imbalances and sustainable improvement in external debt ratios.

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