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Latvia’s Credit Rating Raised to Investment Grade by S&P

Latvia’s credit rating was raised to investment grade by Standard & Poor’s for the first time since 2009 because of the Baltic nation’s efforts to narrow its budget deficit.

S&P increased its assessment one step to BBB-, the lowest investment grade, from BB+, assigning a stable outlook. That’s on a par with Azerbaijan and Croatia. S&P joined Fitch Ratings and Moody’s Investors Service in rating the country’s debt investment grade.