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S&P: Vilnius view negative
Standard & Poor's said it affirmed the BBB+ long-term rating on the City of Vilnius, the capital of the Republic of Lithuania (A-/negative/A-2).
The outlook was revised to negative from stable, the agency said, due to the city's negative budgetary performance and low liquidity.
S&P said the city's position as Lithuania's economic, financial and commercial center supports the rating, as do its fast-growing service-driven economy, infrastructure and low debt.
Vilnius' limited financial predictability and autonomy, negative operating balances and low liquidity constrain the rating, the agency noted.
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