Moody's rates Lithuania bond Baa1

Moody's Investors Service said it assign a Baa1 rating to the government of Lithuania's dollar-denominated global bond maturing in 2020.

The outlook is negative, reflecting the persistent impact of the recession on its financial strength.

After a sharp downturn in the first half of 2009, the economy appears to be gradually stabilizing, Moody's said.

Recent macroeconomic data suggest the recession may continue for a few more months, the agency said, but a recovery is expected to be underway toward the end of 2010.

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