Republic of Latvia 'A-' LT, 'A-2' ST Ratings Affirmed On Sound Fiscal Policy; Outlook Stable May 05

Standard & Poors, May 2005

Abstract
LONDON (Standard & Poor's) May 11, 2005--Standard & Poor's Ratings Services said today it affirmed its 'A-' long-term and 'A-2' short-term sovereign credit ratings on the Republic of Latvia. The outlook is stable. "The ratings are supported by a track record of sound macroeconomic management and favorable fiscal indicators, and the authorities' firm commitment to deepening market-based reforms," said Standard & Poor's credit analyst Remy Salters. "This consistent macroeconomic policy mix safeguards the sustainability of the fixed exchange rate regime." Furthermore, strong investment activity, buoyant private consumption, and ongoing structural reforms support prospects for robust output growth of 5.5%-7.5% per year in the short-to-medium term. Recent rapid credit growth, however, warrants close monitoring of developments in the banking sector. Latvia's...

Companies mentioned in this report are:
- Latvia (Republic of)

Action: Affirmed

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Latvia (Republic of)

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