Fitch rates Lithuania eurobond A

Fitch Ratings said it assigned an A rating the Republic of Lithuania's upcoming 10-year fixed-rate eurobond, expected to be in the range of €600 million to €700 million, an A rating. The rating is in line with Lithuania's A-rated long-term foreign-currency issuer default rating with stable outlook.

The ratings are underpinned by strong growth, which is driving convergence towards average European Union income levels, sustained fiscal discipline and low government debt levels, Moody's said.

Nevertheless, rapid wage and credit growth are contributing to rising inflation, a large current account deficit and rising external indebtedness, though on a more moderate scale than in its Baltic neighbors, the agency added.

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