Moody's upgrades Lithuania to 'A2'
Photo by Daniel J. Macy / Shutterstock.com
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.