S&P, one of the world’s "Big Three" credit rating agencies, said at the end of last week it was keeping Poland's long- and short-term foreign-currency sovereign credit ratings at A-/A-2, with a stable outlook.
The rating agency maintained the country's local-currency ratings at “A/A-1.”
It cited Poland's competitive and diversified economy as well as strong economic and fiscal performance as the rationale for the rating action, according to a statement by the Polish finance ministry.
The agency predicted, however, that macroeconomic risks and shocks from Russia's war on Ukraine would have a negative impact on Poland's economy and public finance, Polish state news agency PAP reported.
S&P has trimmed its 2022 GDP growth forecast for Poland to 4 percent from a previous prediction of 4.5 percent and is also expecting slower economic growth next year, 1.2 percent instead of the 2.1 percent it predicted earlier, the PAP news agency reported.
(gs)
Source: PAP, gov.pl