S&P upgrades Lithuania

S&P said it raised its long- and short-term foreign and local currency sovereign credit ratings on Lithuania to A/A-1 from A-/A-2.

The outlook is stable.

“The upgrade reflects Lithuania's strong economic development over the past years, as well as its robust growth prospects in the near term,” the agency said in a news release.

“The small open economy will benefit from increasing integration into European markets, increasing wages and rising investments aided by the inflow of E.U. structural funds over the next few years.”

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