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DBRS Morningstar confirms Lithuania at A, trend changed to positive

DBRS Morningstar on Jan. 10 confirmed its ratings on Lithuania and changed the trends on all ratings to positive.

The rating agency confirmed its long-term foreign- and local-currency issuer ratings at A, while the short-term foreign- and local-currency issuer ratings were confirmed at R-1(low).

DBRS said the positive trends were based on the Lithuanian economy's continued improvement in its economic resilience.

"GDP growth has been stronger than expected, at 3.6% in the third quarter of 2019 on a seasonally adjusted annual basis, as private consumption, industry and construction performed well," the rating agency said.

DBRS also noted that Lithuania is among the euro area's top growth performers.

Lithuania's sound fiscal position and low public debt ratio support its A ratings. DBRS views Lithuania's membership of the OECD in 2018 and its euro system membership as credit strength for the country.