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Article: ITALY: MOODY'S CHANGES OUTLOOK ON CITY OF RIGA'S RATING TO NEGATIVE FROM STABLE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- September 25, 2008
CopyrightCOPYRIGHT 2008 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service has today revised the outlook on the City of Riga's (Latvia) long-term issuer rating to negative from stable. The A2 issuer rating of the city has been affirmed. The rating action follows Moody's revision of the outlook on the Government of Latvia's A2 foreign and local currency debt ratings to negative from stable. The change in outlook on the government's debt ratings is prompted by the steep fall in economic growth from double-digit annual rates to roughly zero, threatening the government's financial strength if not ...
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