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Standard & Poor's improves Lithuania's credit rating

VILNIUS – The international credit ratings agency Standard & Poor's has given a positive mark to Lithuania's fiscal policies and economic growth outlook, revising the its outlook to the country's credit rating.

The Lithuanian Finance Ministry said the long-term credit rating was upgraded from A- to A, while the short-term rating was moved up from A-2 to A-1. The agency's long-term rating outlook remains stable.

"The rating proves once again that we are managing our public finances in a responsible manner and conducting efficient fiscal policies, thus making Lithuania more credible on the global arena," Finance Minister Vilius Sapoka said in a press release.

Another international agency, Fitch Ratings, in the end of February has affirmed Lithuania's long-term rating at A-, with a stable outlook.

Moody's has granted Lithuania a long-term credit rating of A3 with a stable outlook.

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