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Latvian Default Risks Drop to Three-Year Low on Moody’s Report

June 7 (Bloomberg) -- The cost of insuring Latvian bonds against non-payment fell to the lowest in three years after Moody’s Investors Service yesterday raised its outlook on the Baltic country’s debt to positive from stable.

Latvian credit-default swaps declined to 194.8 basis points at 10:30 a.m. in London, the cheapest level since June 2008, CMA prices show. Credit-default swap prices drop as investor perceptions of the borrower’s creditworthiness improve.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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