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I UNDERSTAND
English Section

Moody’s affirms Poland’s rating amid pandemic

01.05.2021 08:30
Ratings agency Moody's has affirmed Poland's credit rating at "A2" with a stable outlook, citing the country's economic resilience amid the coronavirus pandemic.
Photo:
Photo:EPA/Juan Ignacio Roncoroni

The agency, one of the world’s "Big Three" credit rating agencies, announced its decision late on Friday Warsaw time.

It said Poland "showed a moderate contraction during the COVID-19 pandemic shock compared to peers" and had "a favourable growth and fiscal outlook."

It added that it expected "the scarring effects" of the coronavirus crisis "to be small" for the country.

Poland’s Finance Minister Tadeusz Kościński has welcomed the rating action by Moody's, saying it confirmed the Polish government was pursuing "responsible economic and fiscal policies.”

In an update in May 2017, Moody's maintained Poland's A2 credit rating, while raising its outlook from negative to stable.

Meanwhile, the S&P Global ratings agency last month maintained Poland's "A-" long-term foreign-currency credit rating, with a stable outlook, as economies worldwide struggle with the fallout from the coronavirus pandemic.

The third leading ratings agency, Fitch, in March affirmed Poland's "A-" credit rating with a stable outlook, citing the country’s "diversified economy with a record of stable growth in recent years," coupled with "a sound macroeconomic and monetary policy framework."

(gs)

Source: PAP, gov.pl