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Fitch: Lithuania outlook negative
Fitch Ratings said it revised the outlook on the Republic of Lithuania to negative from stable and affirmed the A long-term foreign-currency issuer default rating, A+ long-term local-currency issuer default rating, F1 short-term foreign-currency issuer default rating and AA country ceiling.
The agency said the negative outlook reflects rising inflationary pressures, a further prospective delay to euro adoption - which Fitch does not expect until 2013 - a marked deterioration in Lithuania's external imbalances and uncertainty over how the country will secure a gradual adjustment to a more sustainable growth path.
Lithuania's almost entirely foreign-owned banking system and strong public finances partly mitigate the country's external weaknesses, Fitch added.
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