Moody’s rates Lithuania green bond GB1

Moody's Investors Service said it assigned a green bond assessment of GB1 to Lithuania's (A3 stable) green bond issued in May.

Lithuania's €20 million debut green bond is a senior unsecured and unsubordinated offering maturing in May 2028.

Net proceeds from the offering will be used exclusively to improve the energy efficiency of multi-apartment buildings throughout Lithuania, leading to energy savings and contributing to the country's goals under the Paris climate agreement, EU climate framework and other national environmental goals.

"The Lithuanian government is using the proceeds to further investments in energy efficiency upgrades to multi-apartment buildings throughout Lithuania by at least 40%, which will contribute to the country's goal to decrease energy consumption intensity 1.5 times by 2030 compared to 2017," Matthew Kuchtyak, Moody's lead green bond assessment analyst, said in a news release.

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