Moody’s keeps Poland's ”A2” rating, cites NATO benefits and debt risks

Moody's, one of the largest credit rating agencies in the world, has maintained Poland's credit rating at "A2" with a stable outlook, citing the benefits of NATO membership and improved relations with the EU following a government change in 2023.

Moody's has maintained Poland's credit rating at "A2" with a stable outlook, highlighting the advantages of NATO membership while noting risks associated with rising debt and limited judicial reforms.

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While assessing Poland's creditworthiness, Moody's continues to highlight risks related to rising debt and limited judicial reforms, stemming from tensions between the president and the prime minister.

Experts suggest that Poland’s rating could improve if relations between the president and the government strengthen and the debt situation exceeds expectations.

However, negative factors impacting the rating include the rapid growth of public debt and a deterioration in the rule of law, which could influence the country’s credit assessment.

Moody's forecasts a 3.5% GDP growth for Poland in 2025, with a public sector deficit exceeding 5% of GDP through the end of that year.

The agency anticipates gradual fiscal consolidation starting in 2026, with debt surpassing 60% of GDP. Among the three largest rating agencies,

Moody's gives Poland the highest rating, with upcoming reviews by Fitch and S&P scheduled for November.

The final round of Poland's credit rating reviews for this year is scheduled for November 8th (Fitch and S&P Global Ratings). According to the Polish state news agency PAP, this will be the last review of Poland's credit rating in 2024.

Source: IAR/PAP/Moody's

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