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Dagong maintains sovereign credit rating of Uruguay, Peru, Latvia

11-30-2011 16:01 BJT

BEIJING, Nov. 30 (Xinhua) -- Chinese ratings provider Dagong Global Credit Rating Co. said Wednesday it had maintained the sovereign credit rating of Latvia, Peru and Uruguay.

The agency maintained Latvia's local and foreign currency sovereign credit rating of BB with a stable outlook.

Dagong said the country has shaken off the recession and posted mild growth. But its weak economic structure made Latvia vulnerable to external risks, and the government's solvency has not greatly improved.

For Peru, Dagong kept its local and foreign currency sovereign credit rating at BBB+ with a stable outlook.

Peru's structural economic problems and its over-reliance on mineral sales for fiscal revenues has undermined its ability to pay off debts and therefore did not lift the nation's credit rating, Dagong said.

Meanwhile, the agency maintained Uruguay's local and foreign currency sovereign credit rating of BB+ with a positive outlook.

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Editor:Zhang Hao |Source: Xinhua

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