The probable change of government in Poland will help improve Warsaw's relations with Brussels, which in turn would have a positive effect on the country's credit rating, Moody's rating agency has said.
Moody's rating agency declined to issue a scheduled report for Poland's sovereign rating, which means the rating holds at A2 with a stable outlook, the agency said in a statement on Friday night.
The Polish zloty seems to be largely recovered from the pressure of a recent interest rate decision but is now hinged on global macro publications as well as Poland's credit rating revision by the Moody's agency due late Friday.
A planned commission to investigate Russian influences on Polish governments threatens to further impair Poland's relations with the EU and block Warsaw's access to EU funding, the Moody's rating agency wrote on Thursday.
The Moody's rating agency has raised its prediction for Poland's GDP growth in 2023 from -0.2 percent to 0.4 percent without changing the country's credit rating.
Global ratings agency Fitch has confirmed Poland's long-term rating at the 'A-' level with stable outlook.
Poland’s GDP will contract by 0.2 percent, year on year, in 2023, according to the credit ratings agency Moody's.
The Fitch ratings agency has revised down Poland's GDP growth forecasts for both 2022 and 2023, to 3.9 percent from its previous estimate of 5.2 percent for this year and to 1.5 percent for next year from the level of 3.0 percent, the agency has indicated in a report.
Global ratings agency Moody's has affirmed Poland's long-term credit rating at the A2 level, an upper-medium grade, with stable outlook.
Poland's recent Constitutional Tribunal ruling on the unconstitutionality of certain provisions of EU treaties may further strain the country's relations with the EU and could lead to delays in EU fund flows, which is a credit negative, Moody's wrote in a comment.
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