S&P affirms Vilnius

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

The outlook is stable.

The agency said that the rating on the Lithuanian city of Vilnius is supported by the city's fast growing service-driven economy, an increasing inflow of EU funds, a strengthened policy environment since the accession of the Republic of Lithuania (A/stable/A-1) to the EU and a low debt burden.

The rating is constrained, however, by limited financial autonomy and flexibility owing to the high degree of revenue centralization in Lithuania and evolving accounting and reporting systems, S&P added.

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