Fitch Affirms Latvia at 'BBB+'; Outlook Stable

Fri Jan 3, 2014 11:36am EST

LONDON, January 03 (Fitch) Fitch Ratings has affirmed Latvia's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB+'. The issue ratings on Latvia's senior unsecured foreign and local currency bonds have also been affirmed at 'BBB+'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling has been affirmed at 'AA+' and the Short-term foreign currency IDR at 'F2'. KEY RATING DRIVERS The affirmation and Stable Outlook reflect the following factors: The Latvian economy is growing strongly. Fitch estimates GDP growth was 4.0% in 2013, taking the three-year average to 4.8%.Country CeilingsAdditional Disclosure Solicitation StatusALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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