Moody's confirms Poland's rating at A2 with stable outlook

Poland's long-term rating in foreign currency was affirmed at the A2 level with stable outlook by rating agency Moody's on Friday evening.

According to the agency, the rating balances favourable growth and fiscal outlook on the one hand, and challenges to Poland's institutional strength on the other hand.

One of Poland's key credit strengths is its economic resilience, as reflected by only moderate recession during the Covid pandemic compared to peers, Moody's said.

But while Poland's institutional framework remains sound overall, it faces challenges "particularly in the context of adverse developments in Poland's judicial system," the statement read.

Moody's upheld its forecasts from early April envisaging that the Polish economy will expand by 3.3 percent this year and by 4.8 percent in 2022.

Poland's Finance Minister Tadeusz Koscinski told PAP that Moody's decision to affirm Poland's rating is "proof that the government is responsibly pursuing economic and fiscal policy." 

Among the three major rating agencies, Moody's is the author of Poland's highest rating. According to Fitch and S&P, Poland's rating is 'A-.' All three give Poland a 'stable' outlook. Fitch will publish its new rating review for Poland on August 27, Fitch on October 1.