The Fitch rating agency has affirmed Poland's rating at A- with a stable outlook, the agency said in a Friday statement.
Good growth outlook supports Poland's rating, with the country facing a number of credit challenges including a significant structural deficit and a return to fiscal rules after the pandemic, rating agency Moody's wrote in a report dated September 15.
Rating agency Moody's did not update Poland's credit rating on Friday. This means that the country's long-term foreign currency rating continues at A2 with a stable outlook.
The Fitch ratings agency on Monday maintained Poland's GDP growth forecast at -3.2. percent in 2020 and at 4.5 percent in 2021.
Fitch Agency has downgraded Poland's economic growth forecast in 2020 to minus 3.2 percent year on year from the minus 1.7 percent expected in late April, and raised it to 4.5 percent in 2021 from 4.3 percent forecast earlier.
Rating agency Moody's believes that Poland's economy will shrink by 2.0 percent in 2020 and grow by 3.4 percent in 2021, but sees very little chance for a rating upgrade.
Ratings agency Moody's has maintained a stable outlook for the Polish banking system despite the fact that the country is likely to see its first recession in 29 years.
Global ratings agency S&P has maintained Poland's A- long-term foreign currency debt rating, pointing to the country's diversified economy, safe debt levels and strong macroeconomic foundations, Poland's Finance Ministry said in a Friday evening news release.
Agency’s positive rating reflects the strength and resilience of the Polish economy.
Moody's did not update Poland's credit rating on Friday. This means that Poland's long-term foreign currency rating continues at A2 with a stable outlook.