Analytics, Financial Services, Investments, Latvia, Rating

Three largest international rating agencies – Fitch, Standard&Poor’s, and Moody's – increased Latvia's credit rating in 2014.

"The fact that Latvia's credit rating has been increased by yet another agency is a large achievement. The external circumstances have changed rapidly this year, which made us reduce our growth forecasts. Nevertheless, the fact that our credit rating has been increased again, confirms that our international partners have faith in Latvia's economy going in the right direction," Finance Minister Janis Reirs (Unity) announced.

R&I indicates that Latvia's economy has become more stable, and that concerns about a fickle economy and finance system in the face of external conditions have significantly reduced. The fiscal situation and situation in the finance system is stable. Situation in the labor market is improving. The external debt has been reduced as well.