ITALY: MOODY'S CHANGES OUTLOOK ON CITY OF RIGA'S RATING TO NEGATIVE FROM STABLE.

IPR Strategic Business Information Database | September 25, 2008 | Copyright

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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