Moody's rates Lithuania bond Baa1

Moody's Investors Service said it will assign a Baa1 rating to Lithuania's dollar eurobond maturing in 2017.

The outlook is stable.

"The two key elements for the government's rating are 1) the sustainability of the economic recovery, and 2) the implementation of the fiscal consolidation program," Kenneth Orchard, a vice president at Moody's, said in a statement.

"Both the recovery and the fiscal program appear to be on-track for now."

Moody's noted that Lithuania's economy appears to be following the typical pattern following a credit boom and bust.

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