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Bulletin: Latvia Ratings Not Immediately Affected By Potential Dissolution Of Parliament May 11
Standard & Poors, May 2011
Abstract
LONDON (Standard & Poor's) May 31, 2011--Standard & Poor's Ratings Services said today that the decision by President Zatlers on May 28, 2011 to initiate the dissolution of Latvia's Saeima (parliament) subject to a July 23 referendum would have no immediate impact on the ratings and outlook on the Republic of Latvia (BB+/Positive/B). Even if the referendum results in the calling of early elections, which may cause some short-term political uncertainty, we do not anticipate a reversal of Latvia's commitment to consolidate the general government's fiscal position in 2011, and to cut the 2012 deficit to 2.9% of GDP. Were a new government to shift away from budgetary consolidation, we believe this would pose a risk to the ratings on...
Companies mentioned in this report are: Latvia (Republic of)
Action: Bulletin
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.
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