S&P lifts Lithuania to A-

Standard & Poor's said it raised its long-term foreign and local currency sovereign credit ratings on the Republic of Lithuania to A- from BBB.

At the same time, the agency affirmed the A-2 short-term ratings on Lithuania.

The outlook is stable.

S&P said the upgrade partly reflects its expectation that Lithuania's economic growth will remain robust and sustainable. The upgrade also reflects the sovereign's stronger-than-expected external and fiscal performances.

In addition, S&P believes that Lithuania fulfills all quantitative euro accession criteria and will be invited to join the eurozone (European Economic and Monetary Union) in 2015.

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