Rating agency Fitch Ratings revised Lithuanian credit outlook from stable to positive amid improving public finances and economic recovery. Michele Napolitano, Fitch Ratings analyst, indicated that while debt is still an issue, continuing fiscal consolidation, and structural reforms may allow the company to improve the ratings in the near future. Fitch said to be confident about the governments plan to reduce deficit down to 5.3% in 2011. The agency forecasts that Lithuanian GDP will grow by 3.8% y/y in 2011, and 4% y/y in 2012. PM Kubilius indicated that the increase in the outlook is a positive sign, expressing support for the current governments actions and policies. |
Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more