Analytics, Economics, Investments, Latvia, Rating

"This assessment is very important to our foreign investors and the international community as it approves work done by Latvia to overcome the economic crisis," Finance Minister Einars Repse (New Era) said in a statement.

The agency reaffirmed Latvia's long-term foreign currency rating at BB+, informs LETA/REUTERS/AFP.

"Financial and economic stabilisation in Latvia, and an improvement in the country's external liquidity, supports the revision of the rating outlook to stable," Fitch expert Douglas Renwick said in a statement. "Although Latvia's fiscal deficit remains high, consolidation measures enacted to date have been substantial. Fitch expects further budget tightening over the coming year, even if a change of government follows October's elections.