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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 20:25

Fitch upgrades Lithuania's borrowing rating

BC, Vilnius, 26.06.2014.Print version
International rating agency Fitch has positively assessed consistent steps of Lithuania in pursuit of sustainability of public finances and the fact that the Economic and Financial Affairs Council (ECOFIN) approved of the recommendation to adopt the euro in Lithuania on 1 January 2015, and upgraded Lithuania's long-term borrowing rating from BBB to A-, reports LETA/ELTA.

"The fact that one more agency upgrades Lithuania's borrowing rating proves that the financial policy chosen by us is efficient and appreciated globally. It is also good news, as it shows that there are real preconditions for further decrease in borrowing costs," says Minister of Finance Rimantas Sadzius.

 

In April, credit rating agency Standard & Poor's (S&P) also upgraded Lithuania's long term borrowing rating from BBB to A-.






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