Moody's upgrades Lithuania to 'A2'

Ratings

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Moody's Investors Service on Friday raised Lithuania's sovereign credit rating to 'A2' from 'A3' and assigned a stable outlook, citing as main drivers behind the upgrade strong medium-term growth prospects and a strong fiscal balance despite the pandemic, according to a report by finance.yahoo.com.

Moody's said it expects that Lithuania's debt burden will remain lower than that of most A2 rated peers notwithstanding the impact of the crisis, with fiscal strength supported by strong debt affordability metrics and a reduction of foreign currency debt.

The stable outlook reflects our expectation that the Lithuanian economy will remain relatively resilient to the impact of the coronavirus and will return to robust rates of growth in 2021 and beyond, the ratings company said. Standard & Poor's credit rating for Lithuania stands at A+ with stable outlook. Fitch's credit rating for Lithuania was last reported at A with stable outlook. DBRS's credit rating for Lithuania is A with stable outlook.

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