It was the first company, if given as "1." And Waffen-Grenadier Regiment 33 was the 4th Latvian regiment formed. The first two were for the 2. SS-Infanterie Brigade, which only became a division after the 15. WGD was formed. So it had a higher #, it was the 19. WGD, but its first two infantry regiments were the senior Latvian ones. Thus Waffen-Grenadier Regiment 42 "Voldemars Veiss" was Latvian #1, and Waffen-Grenadier Regiment 43 "Hinrich Schuldt" was Latvian #2.
Only after this was Waffen-Grenadier Regiment 32 formed, it was Latvian #3, then WGR 33 was Latvian #4, and WGR 34 was Latvian #5. Finally, the 2. SS-IB was upgraded to a division, and received a third regiment, formed after all the previous ones, it was WGR 44, which was Latvian #6.