Standard & Poor's credit rating for Latvia stands at A+ with stable outlook. Moody's credit rating for Latvia was last set at A3 with stable outlook. Fitch's credit rating for Latvia was last reported at A- with stable outlook. DBRS's credit rating for Latvia is A (low) with positive outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Latvia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Latvia as reported by major credit rating agencies.


AgencyRatingOutlookDate
DBRSA (low) Positive May 21 2021
FitchA- Stable Oct 09 2020
DBRSA (low) Stable May 22 2020
FitchA- Negative Apr 10 2020
S&PA+ Stable Feb 21 2020
DBRSA (low) Positive May 24 2019
S&PA Stable Sep 21 2018
S&PA- Positive Sep 22 2017
DBRSA (low) Stable Jun 30 2017
Moody'sA3 Stable Feb 13 2015
FitchA- Stable Jun 20 2014
S&PA- Stable May 30 2014
S&PBBB+ Positive Dec 13 2013
FitchBBB+ Stable Jul 09 2013
Moody'sBaa1 Stable Jun 13 2013
S&PBBB+ Stable Jun 10 2013
Moody'sBaa2 Positive Mar 15 2013
FitchBBB Positive Nov 13 2012
S&PBBB Positive Nov 09 2012
S&PBBB- Stable May 02 2012
FitchBBB- Stable Dec 13 2011
Moody'sBaa3 Positive Jun 06 2011
FitchBBB- Positive Mar 15 2011
S&PBB+ Positive Mar 09 2011
S&PBB+ Stable Dec 07 2010
FitchBB+ Stable Sep 03 2010
Moody'sBaa3 Stable Mar 31 2010
S&PBB Stable Feb 12 2010
S&PBB Negative Aug 10 2009
Moody'sBaa3 Negative Apr 23 2009
FitchBB+ Negative Apr 08 2009
S&PBB+ Negative Feb 24 2009
Moody'sBaa1 Negative Jan 07 2009
FitchBBB- Negative Dec 23 2008
FitchBBB- Negative Watch Nov 12 2008
Moody'sA3 Negative Nov 07 2008
S&PBBB Negative Oct 27 2008
FitchBBB Negative Oct 03 2008
Moody'sA2 Negative Sep 25 2008
FitchBBB+ Negative Jan 31 2008
Moody'sA2 Stable Sep 12 2007
FitchBBB+ Stable Aug 17 2007
S&PBBB+ Negative May 17 2007
FitchA- Negative Apr 05 2007
S&PA- Negative Feb 19 2007
Moody'sA2 Positive Mar 09 2006
FitchA- Stable Aug 26 2005
S&PA- Stable Jul 29 2004
FitchA- Positive Jul 07 2004
FitchBBB+ Positive Nov 04 2003
S&PBBB+ Positive Jul 29 2003
FitchBBB+ Stable Jul 21 2003
Moody'sA2 Stable Nov 12 2002
S&PBBB+ Stable Aug 20 2002
S&PBBB Positive Aug 09 2001
FitchBBB Positive Jul 17 2001
FitchBBB Stable Sep 21 2000
FitchBBB N/A Jun 29 1998
Moody'sBaa2 Stable Dec 17 1997
S&PBBB Stable Jan 16 1997

 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
CCC+ Caa1 CCC 21
CCC+ Ca CCC CCC 15
Ba3 B+ 16
BBB BB 52
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 48
BB- Ba2 45
B+ B2 B+ 33
BB- Ba3 BB- 40
B- Caa1 22
B B3 B 28
AA Aa3 AA- AA (high) 86
SD Caa3 9
B+ B1 B 31
A+ A2 N/A 78
B+ B2 B 31
B B3 27
BBB+ A3 70
BB- Ba2 BB- BB (low) 42
BBB Baa1 BBB 61
B 25
N/A B2 30
B- B2 B 28
AAA Aaa AA+ AAA 100
B- B- 27
Aa3 85
A A1 A- N/A 76
A+ A1 A+ A (high) 80
BB+ Baa2 BB+ BBB (low) 56
CCC+ Caa1 20
B B2 B 31
BBB- Ba1 BBB- 51
Caa2 15
BBB- Ba2 BBB- BBB (low) 50
AA- Aa3 AA- 83
AAA Aaa AAA AAA 100
BB- Ba3 BB- 40
B- Caa3 B- 20
B B2 B+ 30
B- B3 B- 25
AA- A1 AA- AA (low) 83
B- Caa1 CCC 25
AA Aaa AAA AAA 98
BB- B1 40
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AA (high) 92
N/A Caa1 CCC 23
BB Ba2 BB 45
AAA Aaa AAA AAA 100
B- B3 B 22
BB Ba3 BB BB (low) 38
SD
BB- Ba1 BB- 43
BB- B1 35
AA+ Aa3 AA- 90
BBB Baa3 BBB 58
A A2 A 75
BBB- Baa3 BBB- BBB (low) 56
BBB Baa2 BBB 60
B- Caa1 B- 23
AA- A2 A+ A (high) 78
N/A Aa3 90
AA- A1 A+ 81
BBB Baa3 BBB- BBB (high) 61
BB- Ba3 BB- 38
B+ B2 B+ 33
A+ A1 A A (high) 77
B+ B1 BB- 36
BBB- Baa3 BBB 56
B B2 B+ 33
A+ A1 AA 85
NR B2 30
Caa2 CCC 20
A+ A3 A- A (low) 73
D C RD 11
B 30
AAA 100
A+ A2 A A 76
AAA Aaa AAA AAA 100
Aa3 AA 87
BB- BB+ 45
A- A3 BBB+ 70
B3 CCC 27
Caa1 20
A- A2 A+ A (high) 75
Baa2 65
BBB Baa1 BBB- BBB 60
B3 25
B B3 B 28
B B1 35
BBB- 55
BB+ Ba1 BB+ 51
CCC+ Caa2 CCC 14
Ba3 BB 45
AAA Aaa AAA AAA 100
AA+ Aaa AA 93
B- B3 B- 25
B3
B- B2 B 28
AAA Aaa AAA AAA 99
B+ Ba3 BB- 40
B- B3 B- 25
BBB Baa2 BBB- 60
B- B2 27
BB Ba1 BB+ 46
BBB+ A3 BBB+ N/A 65
BBB+ Baa2 BBB 61
A- A2 A- A 71
BBB Baa3 BBB BBB (high) 71
D 0
AA- Aa3 AA- 85
CCC+ Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 33
BB+ 55
A- A1 A 75
B+ Ba3 37
BB+ Ba2 BB+ 46
B 35
AAA Aaa AAA AAA 98
A+ A2 A A (high) 76
AA- A3 A A (high) 75
B3 25
BB- Ba2 BB- 45
AA Aa2 AA- 86
A Baa1 A- A 71
CCC+ Caa1 CCC 20
B3 25
SD Caa3 RD 15
B3 30
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA Aa3 AA- 85
B- B3 25
B2 35
BBB+ Baa1 BBB+ 65
B B3 30
BBB- Ba1 52
N/A B3 B- 28
B+ B2 BB- BB (high) 35
B B2 B+ 31
B B3 B 26
AA Aa2 AA- 90
AA Aa3 AA- AA (high) 90
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 38
SD WR RD 11
BB Ba3 BB 43
SD Ca RD 30
 Export  API


Credit Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com