DBRS lifts Lithuania

DBRS said it upgraded the Republic of Lithuania’s long-term foreign- and local-currency issuer ratings to A (high) and revised the trend to stable from positive.

“The ratings upgrades reflect DBRS Morningstar’s assessment that the resilience of the Lithuanian economy has strengthened. Despite the Covid-19 crisis, Lithuania’s diversified economic structure and targeted fiscal measures limited the impact on the economy in 2020. Real GDP returned to its pre-pandemic levels already in the first quarter of 2021,” DBRS said in a press release.

The agency noted real GDP grew by 5.2% year over year from January to September 2021.

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