Bloomberg News

Lithuania, Latvia Credit Rating Outlooks Cut to Stable by Fitch

December 13, 2011

Dec. 13 (Bloomberg) -- Lithuania and Latvia had the outlooks on their credit ratings cut to stable from positive by Fitch Ratings because of a deteriorating external environment.

Fitch affirmed Lithuania’s BBB rating, the company’s second-lowest investment grade, and Latvia’s BBB-, one grade lower.

“Strong economic and financial linkages mean that countries in central and eastern Europe are being adversely affected by downward revisions to economic growth prospects and heightened financial stress in the euro zone,” Ed Parker, a managing director for emerging markets at Fitch in London, said today in a statement.

--Editors: Andrew Langley, Douglas Lytle

To contact the reporters on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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