The country’s five-year Cumulative Probability of Default (CPD) reached 8.3 percent, CMA said its latest Global Sovereign Debt Credit Risk Report for the first quarter of 2013.
The analysts attribute this improvement in Lithuania’s image among investors to the debt reduction policy pursued by the government.
Lithuania’s CPD reached 15.5 percent in the same period last year. In the latest report, the country is ranked 38th among 69 countries listed from the most risky to the least risky ones.
Latvia ranks 35th with 5-year CPD of 8.6 percent and Estonia is 57th with 5-year CPD of 4.5 percent.
“Lithuania has managed to stabilize growth in the ratio between the debt and the gross domestic product. Although the ratio remains rather high, it has stopped growing. All these aspects lead to improvements in the assessment of the country’s reliability”, Gitanas Nausėda, an adviser to SEB Bankas president, told the daily.
