S&P: Lithuania up to positive

Standard & Poor's said it revised its outlook on the Republic of Lithuania to positive from stable on good economic and EMU membership prospects.

At the same time, the A- long-term and A-2 short-term sovereign credit ratings on Lithuania were affirmed.

S&P said the outlook revision reflects the prospects for sustained strong economic growth, which will swiftly raise the current, comparatively low, levels of wealth.

The move also reflects Lithuania's positive prospects of joining EMU by 2007, and no later than 2008, which will improve the country's external risk position, S&P noted.

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