FITCH UPGRADES LITHUANIA’S OUTLOOK
Updated 2011-05-05
Fitch Ratings agency increased Lithuania’s outlook from stable to positive and affirmed its long-term foreign currency rating at BBB and its long-term local currency rating at BBB+.
“The positive outlook reflects Lithuania’s strengthening public finances, strong economic recovery and increasing stabilization in the financial sector. Although Lithuania’s external debt burden remains a rating weakness, continued fiscal consolidation and structural reform combined with falling external debt ratios could lead to an upgrade,” Michele Napolitano, Associate Director in Fitch’s Sovereign group, said in a press statement.
