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Latvia Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
A3 Stable | A+ Negative | A- Stable | A Stable | A- Stable |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Apr 28, 2023 | Scope Ratings | A- | Positive | A- | Stable | |
| Dec 06, 2022 | S&P | A+ | Stable | A+ | Negative | |
| Jan 14, 2022 | Scope Ratings | A- | Stable | A- | Positive | |
| Nov 19, 2021 | DBRS | A (low) | Positive | A | Stable | |
| May 21, 2021 | DBRS | A (low) | Stable | A (low) | Positive | |
| Oct 09, 2020 | Fitch | A- | Negative | A- | Stable | |
| May 22, 2020 | DBRS | A (low) | Positive | A (low) | Stable | |
| Apr 10, 2020 | Fitch | A- | Stable | A- | Negative | |
| Feb 21, 2020 | S&P | A | Stable | A+ | Stable | |
| May 24, 2019 | DBRS | A (low) | Stable | A (low) | Positive | |
| Sep 21, 2018 | S&P | A- | Positive | A | Stable | |
| Oct 27, 2017 | Scope Ratings | NR | — | A- | Stable | |
| Sep 22, 2017 | S&P | A- | Stable | A- | Positive | |
| Jun 30, 2017 | DBRS | NR | — | A (low) | Stable | |
| Feb 13, 2015 | Moody's | Baa1 | Stable | A3 | Stable | |
| Jun 20, 2014 | Fitch | BBB+ | Stable | A- | Stable | |
| May 30, 2014 | S&P | BBB+ | Positive | A- | Stable | |
| Dec 13, 2013 | S&P | BBB+ | Stable | BBB+ | Positive | |
| Jul 09, 2013 | Fitch | BBB | Positive | BBB+ | Stable | |
| Jun 13, 2013 | Moody's | Baa2 | Positive | Baa1 | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Latvia’s current credit rating?
Latvia’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Latvia’s credit risk.
Has Latvia’s credit rating changed recently?
This page lists the latest rating and outlook actions for Latvia, showing when each agency last reviewed or changed its assessment.
Why does Latvia’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Latvia's bond yields, currency, and equity flows as investors reassess risk.
How does Latvia’s rating compare to other countries?
You can explore how Latvia ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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