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Research Update: Latvian Capital City of Riga Upgraded To 'BB+' On Improved Revenue Projection And Stronger Liquidity, Outlook Stable Dec 11 Product Image

Research Update: Latvian Capital City of Riga Upgraded To 'BB+' On Improved Revenue Projection And Stronger Liquidity, Outlook Stable Dec 11

  • Published: December 2011
  • Region: Latvia
  • Standard & Poors

FEATURED COMPANIES

  • Nordea Bank AB
  • Riga (City of)
  • MORE

Abstract
We expect Riga's revenues to expand as a result of a national economic recovery, management's capacity to adjust to adverse economic conditions, and the city's strong liquidity. We are therefore raising our long-term issuer credit rating on Riga to 'BB+' from 'BB'. The stable outlook reflects our expectation that Riga's liquidity position will stay strong despite a gradual weakening of budgetary performance. On Dec. 23, 2011, Standard & Poor's Ratings Services raised its long-term issuer credit rating on the Latvian capital City of Riga to 'BB+' from 'BB'. The 'B' short-term rating was affirmed. The outlook is stable. The upgrade reflects our expectation, under our base-case scenario, that Riga's revenues will be boosted over the period 2011-2014, owing to an...

Companies mentioned in this report are:
- Riga (City of)
- Nordea Bank AB

Action: Upgraded

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 READ MORE >

- Riga (City of)
- Nordea Bank AB

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