Moody's affirms Latvia's credit rating at A3 level

• Published date: 03 May 2022
• Publication title: LETA

RIGA, May 3 (LETA) - International credit rating agency Moody's has affirmed Latvia's credit rating at A3, maintaining a stable outlook, the Treasury informed LETA.

s key rating drivers Moody's highlights the progress in enhancing Latvia's energy security, as well as the presence of NATO troops in Latvia as a security guarantee, which reduces the geopolitical risks to national security.

The agency expects that the Latvia's economy and fiscal strength will be largely resilient to the impact of the spillover effects from the Russian invasion of Ukraine.

"Moody's rating recognized at international level Latvia's ability to act promptly and decisively to strengthen national security and energy independence as a matter of priority. The actions made so far in strengthening an internal and external security of the country, as well as the readiness of our country to address new challenges in the current situation of geopolitical tension are highly assessed," emphasizes Finance Minister Janis Reirs.

lthough Latvia has historically been highly reliant on natural gas imports from Russia, the agency emphasizes that the Baltic States have taken a number of significant steps since 2014 to diversify energy sources and build the necessary infrastructure, and acknowledges Latvia's preparedness and proactive policymaking in the field of the energy security.

Taking into account the impact of the Russia war in Ukraine on Latvia's...