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S&P affirms Poland's credit rating despite virus

14.04.2020 01:00
International ratings agency S&P Global has affirmed Poland's "A-" long-term foreign-currency credit rating, with a stable outlook, despite the coronavirus pandemic.
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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.

Meanwhile, ratings agency Fitch at the end of last month affirmed Poland's "A-" credit rating with a stable outlook, citing the country’s “strong macroeconomic fundamentals, and a relatively sound policy framework, coupled with EU membership.”

The Moody's ratings agency in mid-March kept Poland's rating unchanged at "A2" with a stable outlook.

S&P Global in October 2018 upgraded Poland's credit rating from BBB+ to A-, while describing the country's outlook as “stable.”

(gs/pk)

Source: IAR, spglobal.com