S&P lifts Latvia outlook to positive

S&P said it revised to positive from stable the outlook on the long-term foreign and local currency sovereign credit ratings on the Republic of Latvia. At the same time, S&P affirmed its A-/A-2 long- and short-term foreign and local currency sovereign credit ratings on Latvia.

“The outlook revision reflects our expectation that Latvia's current fast economic expansion will be coupled with structural improvements of the country's labor market, which would help sustain higher income levels following the current cyclical surge in growth,” S&P said in a news release. “We expect fiscal prudence to be maintained despite tax reform and upcoming elections next year.”

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