Ratings agency Standard & Poor has upheld Poland's rating at A- for long-term liabilities in foreign currency, with stable outlook, the agency has reported in a statement.
The Polish economy is expected to shrink by 3.4 pct in 2020 against a previous 4.0 pct decline, global ratings agency Standard & Poor said in its revised forecast.
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.
S&P Global Ratings maintained its forecast for the decline in Poland's GDP at -4 percent in 2020, according to a press statement released on Wednesday.
S&P Global Ratings has revised its forecast for the decline in Poland's GDP to -4 percent in 2020 from the previous -2 percent, according to an S&P report from May 7.
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.
The S&P rating agency has kept Poland's rating at A-/A-2 for long- and short-term foreign currency obligations and A/A-1 for long- and short-term domestic currency obligations, the Finance Ministry informed on Saturday.
Late Friday, S&P Global Ratings announced that it had affirmed Poland's credit rating at 'A-'. The agency also defined the ratings outlook as stable.
Government welcomes upgrade saying its policies are bringing “tangible results”.
The S&P Global Ratings agency has lowered its estimate of Poland's 2018 general government deficit to 0.9 percent of the country's GDP from 2.0 percent, the agency's report from Thursday shows.