Economics, Good for Business, Lithuania, Rating
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Friday, 29.03.2024, 02:50
S&P affirms Lithuania's long-term credit rating at A+ with stable outlook
The key reason why the rating was not downgraded was the agency's forecast that the Lithuanian economy will only contract by 5% in 2020, before recovering in 2021, the Finance Ministry said.
The agency said in a press release that the stable outlook reflects its "expectation that the negative effects from COVID-19 on Lithuania's economy and public finances will prove temporary over the coming two-to-three years, against existing fiscal and external buffers and the strong policy response by the European Central Bank (ECB) and the EU authorities".
S&P upgraded Lithuania's rating to A+, from A, last February.
The country is rated A with a stable outlook by Fitch Rating, A3 with a positive outlook by Moody's, and A with a stable outlook by DBRS Morningstar.
Since early March, S&P has downgraded the outlook for Bulgaria, Greece, Hungary, Malta and Portugal from positive to stable, and that for Slovakia, from stable to negative, the Foreign Ministry noted.
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