VILNIUS — The credit ratings of all three Baltic states are improving steadily as their governments implement painful austerity measures in the aftermath of the economic crisis.

After downgraded Latvia’s credit to a “junk” rating nearly one year ago, Standard & Poor’s has increased the most troubled of the three hard-hit countries to the BB rating Friday, from negative to stable.

“The outlook revision reflects our view of [private_supervisor]prospects for economic recovery in light of the shrinkage in external imbalances and the government’s progress in stabilizing public finances,” said Standard & Poor’s credit analyst Frank Gill.

Standard & Poor’s said wage reductions and the government’s willingness to safeguard public finances have helped partially restore the country’s competitiveness.

Standard & Poor’s isn’t alone in this view — Moody’s Investors Service also says Latvia’s economy is stabilizing.

“Latvia’s economy and government finances are now beginning to stabilize after being severely affected by the global financial crisis in 2009,” the ratings wrote in its annual report on Latvia issued last week.

The other Baltic states are improving from last’s year’s freefall as well. Standard & Poor’s raised Estonia’s outlook from negative to stable on Thursday and Lithuania’s on Feb. 5.

“The outlook revision reflects our view of the prospects for improved economic growth in Estonia, owing to the shrinkage of external imbalances and the government’s success in stabilizing its finances,” said Standard & Poor’s credit analyst Kai Stukenbrock.
[/private_supervisor] [private_subscription 1 month]prospects for economic recovery in light of the shrinkage in external imbalances and the government’s progress in stabilizing public finances,” said Standard & Poor’s credit analyst Frank Gill.

Standard & Poor’s said wage reductions and the government’s willingness to safeguard public finances have helped partially restore the country’s competitiveness.

Standard & Poor’s isn’t alone in this view — Moody’s Investors Service also says Latvia’s economy is stabilizing.

“Latvia’s economy and government finances are now beginning to stabilize after being severely affected by the global financial crisis in 2009,” the ratings wrote in its annual report on Latvia issued last week.

The other Baltic states are improving from last’s year’s freefall as well. Standard & Poor’s raised Estonia’s outlook from negative to stable on Thursday and Lithuania’s on Feb. 5.

“The outlook revision reflects our view of the prospects for improved economic growth in Estonia, owing to the shrinkage of external imbalances and the government’s success in stabilizing its finances,” said Standard & Poor’s credit analyst Kai Stukenbrock.[/private_subscription 1 month] [private_subscription 4 months]prospects for economic recovery in light of the shrinkage in external imbalances and the government’s progress in stabilizing public finances,” said Standard & Poor’s credit analyst Frank Gill.

Standard & Poor’s said wage reductions and the government’s willingness to safeguard public finances have helped partially restore the country’s competitiveness.

Standard & Poor’s isn’t alone in this view — Moody’s Investors Service also says Latvia’s economy is stabilizing.

“Latvia’s economy and government finances are now beginning to stabilize after being severely affected by the global financial crisis in 2009,” the ratings wrote in its annual report on Latvia issued last week.

The other Baltic states are improving from last’s year’s freefall as well. Standard & Poor’s raised Estonia’s outlook from negative to stable on Thursday and Lithuania’s on Feb. 5.

“The outlook revision reflects our view of the prospects for improved economic growth in Estonia, owing to the shrinkage of external imbalances and the government’s success in stabilizing its finances,” said Standard & Poor’s credit analyst Kai Stukenbrock.[/private_subscription 4 months] [private_subscription 1 year]prospects for economic recovery in light of the shrinkage in external imbalances and the government’s progress in stabilizing public finances,” said Standard & Poor’s credit analyst Frank Gill.

Standard & Poor’s said wage reductions and the government’s willingness to safeguard public finances have helped partially restore the country’s competitiveness.

Standard & Poor’s isn’t alone in this view — Moody’s Investors Service also says Latvia’s economy is stabilizing.

“Latvia’s economy and government finances are now beginning to stabilize after being severely affected by the global financial crisis in 2009,” the ratings wrote in its annual report on Latvia issued last week.

The other Baltic states are improving from last’s year’s freefall as well. Standard & Poor’s raised Estonia’s outlook from negative to stable on Thursday and Lithuania’s on Feb. 5.

“The outlook revision reflects our view of the prospects for improved economic growth in Estonia, owing to the shrinkage of external imbalances and the government’s success in stabilizing its finances,” said Standard & Poor’s credit analyst Kai Stukenbrock.[/private_subscription 1 year]

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