The agency stressed that the rating reflected well appreciated tight fiscal policies implemented in Lithuania. According to Standard&Poor's, in case Lithuania meets the criteria of the eurozone, country's long-term credit rating might be improved.
On Wednesday, Lithuania successfully borrowed EUR 500 million for ten years in the international financial markets today and will pay the smallest coupon in a decade – 3.375%. Such decrease in borrowing costs was the result of positive investor reaction to the trends in Lithuanian economy and constructive international financial market.
"The Lithuanian Government continues the responsible fiscal policy with the view to join the euro zone in 2015. This is reflected in the positive results of this issue. This Eurobond is also special because it is the first Eurobond issued under Lithuania's euro medium term notes programme, which will allow the country to borrow in the international markets quicker and at a lower cost," said Finance Minister Rimantas Sadzius.
