S&P ups Lietuvos Energija

Standard & Poor's said it raised its long-term and short-term corporate credit ratings on Lithuania-based electricity transmission company Lietuvos Energija (LE) to BBB/A-2 from BBB-/A-3.

The outlook is positive.

"The upgrade reflects the continued reduction of LE's regulatory and market risk," said S&P credit analyst Andreas Zsiga. "LE has demonstrated a sound operating track record and robust financial performance since its restructuring in 2002. In addition, the regulatory and market environment has improved with Lithuanian economic growth and the country's accession to the EU in May of this year."

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