S&P affirms Vilnius

Standard & Poor's said it affirmed the BBB+ long-term issuer credit rating on the city of Vilnius.

The outlook is stable.

The rating is supported by the city's position as Lithuania's economic, financial, and commercial center, its fast-growing service-driven economy, infrastructure improvements resulting from the continuing investment program, and low debt burden, the agency said.

The rating is constrained by the city's limited financial predictability and autonomy, narrowing operating balances, weak liquidity and relatively low wealth, S&P said.

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