Fitch affirms a stable future for Latvia

The Fitch Ratings company has affirmed Latvia's long-term foreign and local currency Issuer Default Ratings (IDR) at 'A-', and the outlook on the ratings is stable. This affirms Latvia's previous rating by the agency.

Fitch regards as positive Latvia's GDP growth, which is forecast to reach 3% in the next few years.

Latvia's ratings are supported by its favourable fiscal position, as well as its credible institutional and policy framework which comes with eurozone membership, read the press announcement.

A future rise in ratings can be hampered by the low income per capita, structural challenges (like high unemployment) and high external debt.

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