S&P rates Lithuania eurobond BBB

Standard & Poor's said it assigned its BBB long-term senior unsecured debt rating to the proposed eurobond to be issued by the Republic of Lithuania (BBB/negative/A-3).

The sovereign ratings on Lithuania reflect the authorities' commitment to take sufficient measures to rein in the deterioration in the public finances, including measures to stem the widening deficit of the Social Funds Budget.

Supplementary rounds of budgetary consolidation, alongside the rapid rebalancing of the economy, will narrow Lithuania's external financing needs over the next several years, and should improve the underlying structure of the economy.

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