Fitch: Lithuania to positive

Fitch Ratings said it revised the Republic of Lithuania's outlook to positive from stable.

The agency also said it affirmed its long-term foreign-currency issuer default rating at BBB, long-term local-currency issuer default rating at BBB+, short-term foreign-currency issuer default rating at F3 and country ceiling at A.

The positive outlook reflects Lithuania's strengthening public finances, strong economic recovery and increasing stabilization in the financial sector, Fitch said.

Although Lithuania's external debt burden remains a rating weakness, continued fiscal consolidation and structural reform combined with falling external debt ratios could lead to an upgrade, the agency said.

Lithuania's improving public finances are increasing confidence in its sovereign creditworthiness, thus warranting a positive outlook, Fitch added.

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