Baltic: Negative rating action from Moody’s |
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Rating agency Moody's has cut its credit rating for Latvia and reduced its outlooks for Lithuania and Estonia from stable to negative due to rising fears of an economic slump largely on the back of the global liquidity crisis. The negative Moody's action is obviously bad news, but is not a surprise, as all three Baltic economies have moved from double-digit growth to sharply declining growth due to the global financial crisis. Moody's stated that the negative impact on the economy would
Filed under: Fundamental
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