S&P RAISES LITHUANIA’S LONG-TERM RATING TO 'A-' ON EXPECTED ADOPTION OF EURO; OUTLOOK STABLE
On April 11, 2014, Standard & Poor’s Ratings Services raised to 'A-' from 'BBB' its long-term foreign and local currency sovereign credit ratings on Lithuania, keeping the outlook stable, the Lithuanian Ministry of Finances reports.
This upgrade by two notches reflects S&P’s expectation that Lithuania’s economic growth will remain robust and sustainable. The upgrade also reflects the sovereign’s stronger-than-expected external and fiscal performances. In addition, S&P believes that Lithuania fulfils all quantitative euro accession criteria and will be invited to join the eurozone (European Economic and Monetary Union) in 2015.
Full S&P report is available here (for registered users only).
A few days ago, another international credit ratings agency, Fitch, improved Lithuania’s long-term outlook from stable to positive, also citing Lithuania’s good economic performance and the huge probability of joining Eurozone in January 2015.
Source: Standard &Poor’s, Lithuanian Ministry of Finances
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