Fitch Ratings affirms Latvia's credit rating at "A-" with stable outlook

The international credit rating agency Fitch Ratings ("Fitch") has affirmed Latvia's credit rating at its current "A-" level. The agency has also kept the outlook on the rating stable, meaning no change to the rating is signalled in the near term. The decision was reported by the Latvian Ministry of Finance.

What a credit rating means

A credit rating is an independent agency's assessment of a country's ability to meet its financial obligations on time. Investors and lenders take such assessments into account when deciding whether to buy a country's debt securities or lend to it.

What has changed

According to information provided by the Ministry of Finance, neither the rating level nor the outlook has been altered: Latvia's rating stays at "A-" and the outlook stays stable.

The source report does not provide further details on the reasoning behind the agency's decision or on its full analysis.