Ratings agency S&P Global (formerly known as Standard and Poor's) gave Latvia a shot in the arm September 22 by revising its outlook for the country to 'positive' from 'stable' while affirming its 'A-/A-2' long- and short-term sovereign credit ratings, eng.lsm.lv reports.

The action is short of an actual upgrade but nevertheless reflects increasing confidence in Latvia's economic prospects.

"The positive outlook reflects our view that we could upgrade Latvia if economic expansion ensues without overheating, external risks abate over the medium term, and government debt continues to decline," said S&P in a release explaining the thinking behind its decision.

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26.09.2017, Economy