Latvia Credit Rating

CREDIT RATINGS • SUMMARY
LATVIA
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Rating Agency Rating Outlook Last Update Action
Standard & Poor's A - 31 Jul 2024 rating downgrade
Moody's Investors Service A3 - 13 Feb 2015 rating upgrade
Fitch Ratings A- - 3 Sep 2021 outlook downgrade
DBRS A - 22 Nov 2021 rating upgrade

Current Latvia credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Latvia ability to honor its financial commitments.

The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Latvia, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.

Latvia: Long-term Rating Scales Comparison

Latvia long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Latvia sovereign debt. These scales help investors understand the likelihood that Latvia will meet its financial obligations.

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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Grade Description S&P Moody's Fitch DBRS
Investment
Grade
Prime
AAA
Aaa
AAA
AAA
High Medium Grade
AA+
Aa1
AA+
AA(high)
AA
Aa2
AA
AA
AA-
Aa3
AA-
AA(low)
Upper Medium Grade
A+
A1
A+
A(high)
A
A2
A
A
A-
A3
A-
A(low)
Lower Medium Grade
BBB+
Baa1
BBB+
BBB(high)
BBB
Baa2
BBB
BBB
BBB-
Baa3
BBB-
BBB(low)
Speculative
Grade
Speculative
BB+
Ba1
BB+
BB(high)
BB
Ba2
BB
BB
BB-
Ba3
BB-
BB(low)
Highly Speculative
B+
B1
B+
B(high)
B
B2
B
B
B-
B3
B-
B(low)
Substantial Risk
CCC+
Caa1
CCC+
CCC(high)
CCC
Caa2
CCC
CCC
CCC-
Caa3
CCC-
CCC(low)
Extremely Speculative
CC
Ca
CC
CC
C
C
C
C
In Default
RD
/
RD
RD
SD
/
SD
SD
D•NR
D•NR
D•NR
D•NR
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Latvia Credit Ratings historical data

Timetable of Latvia credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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Date S&P Moody's Fitch DBRS
31 Jul 2024 A
31 Jul 2023 A-
7 Dec 2022 A+
22 Nov 2021 A
3 Sep 2021 A-
24 May 2021 A (low)
10 Oct 2020 A-
23 May 2020 A (low)
11 Apr 2020 A-
22 Feb 2020 A+
25 May 2019 A (low)
22 Sep 2018 A
22 Sep 2017 A-
30 Jun 2017 A (low)
13 Feb 2015 A3
20 Jun 2014 A-
30 May 2014 A-
13 Dec 2013 BBB+
9 Jul 2013 BBB+
13 Jun 2013 Baa1
10 Jun 2013 BBB+
15 Mar 2013 Baa2
13 Nov 2012 BBB
9 Nov 2012 BBB
2 May 2012 BBB-
13 Dec 2011 BBB-
6 Jun 2011 Baa3
15 Mar 2011 BBB-
9 Mar 2011 BB+
7 Dec 2010 BB+
3 Sep 2010 BB+
31 Mar 2010 Baa3
12 Feb 2010 BB
10 Aug 2009 BB
23 Apr 2009 Baa3
8 Apr 2009 BB+
24 Feb 2009 BB+
7 Jan 2009 Baa1
12 Nov 2008 BBB-
7 Nov 2008 A3
27 Oct 2008 BBB
3 Oct 2008 BBB
25 Sep 2008 A2
31 Jan 2008 BBB+
12 Sep 2007 A2
17 Aug 2007 BBB+
17 May 2007 BBB+
5 Apr 2007 A-
19 Feb 2007 A-
9 Mar 2006 A2
26 Aug 2005 A-
29 Jul 2004 A-
7 Jul 2004 A-
4 Nov 2003 BBB+
29 Jul 2003 BBB+
21 Jul 2003 BBB+
12 Nov 2002 A2
20 Aug 2002 BBB+
9 Aug 2001 BBB
17 Jul 2001 BBB
29 Jun 1998 BBB
17 Dec 1997 Baa2
16 Jan 1997 BBB
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