DBRS lifts Lithuania to A

DRBS said it upgraded Lithuania’s long-term foreign and local currency issuer ratings to A from A (low).

The trend on the ratings is stable.

The agency also confirmed Lithuania’s short-term foreign and local currency issuer ratings at R-1 (low) with a stable trend.

The upgrade reflects improved credit fundamentals such as a strong investment dynamic that raises growth potential and improvement in Lithuania’s public finances. GDP growth is again expected to reach over 3% this year, with a strong contribution from domestic demand, according to Bank of Lithuania forecasts, DBRS said in a news release.

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