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Lithuania returns to "A-" long term rating

Date

2014 04 11

Rating
0

Vilnius, 11 April. Credit rating agency “Standard & Poor‘s (S&P) has upgraded Lithuania‘s long term borrowing rating from BBB to A-, thus returning it to one of the highest rating levels in Lithuania‘s sovereign credit history. One of the key motives for the decision is the determination and possibilities of Lithuania to adopt the euro already in 2015. S&P also noticed that Lithuania's external and fiscal performances have exceeded  agency’s 2013 expectations, and continued strong and sustainable economic growth averaging 4% over 2014-2017 is expected.

“The long-term borrowing rating of our country was upgraded to the higher level even by two notches. This is excellent news for Lithuania showing positive recognition of our country's financial policy. The higher rating builds up real preconditions for further decrease in borrowing costs. In addition, this decision shows high rating of our efforts and possibilities to introduce the euro alongside with the responsible Government policy and economic growth”, Lithuanian Finance Minister Rimantas Šadžius said.

The last time S&P assigned A- long term rating to Lithuania in 2008.

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