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 diversified economy, European Union membership and manageable levels of public and private debt as the rationale for the rating action.
The agency predicted, however, that the military conflict between Russia and Ukraine would have a significant 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 3.6 percent from a previous prediction of 5 percent and is also expecting a higher general government deficit this year, at 4 percent of GDP instead of the 3 percent it predicted earlier, the PAP news agency reported.
(gs)
Source: PAP, gov.pl