Moody’s confirms Poland’s A2 rating with stable outlook – The First News
Poland’s long-term currency rating was confirmed at A2 level with a stable outlook by rating agency Moody’s on Friday evening.
According to the agency, the rating balances favorable growth and fiscal prospects on the one hand, and challenges to Poland’s institutional strength on the other.
One of Poland’s main credit strengths is its economic resilience, as evidenced by a moderate recession during the Covid pandemic relative to its peers, Moody’s said.
But while Poland’s institutional framework remains solid overall, it faces challenges “especially in the context of unfavorable developments in the Polish judicial system,” the statement said.
Moody’s confirmed its forecast in early April, forecasting the Polish economy to grow 3.3% this year and 4.8% in 2022.
Polish Finance Minister Tadeusz Koscinski told PAP that Moody’s decision to affirm Poland’s note is “proof that the government is pursuing responsible economic and fiscal policies”.
Among the three major rating agencies, Moody’s has the highest rating in Poland. According to Fitch and S&P, Poland’s rating is “A-”. All three give Poland a “stable” outlook. Fitch will publish its new rating review for Poland on August 27, Fitch on October 1.