World Economy

Fitch Affirms Poland Rating at A-

Fitch Affirms Poland  Rating at A-Fitch Affirms Poland  Rating at A-

Fitch affirmed Poland’s A- rating with a stable outlook, saying reduced policy predictability under the Law and Justice party government was offset by the country’s robust economic fundamentals and improving external finances. Most analysts polled by Reuters ahead of the decision expected Fitch to keep the rating unchanged, but cut the outlook to negative due to fiscal risks. “Poland’s ‘A-’ rating reflects its solid macro fundamentals, government debt close to its rating peers median and improving external finances from a weak starting point,” Fitch said in a statement. “Reduced predictability in economic policy since the October 2015 political transition increases downside risks to Fitch’s economic and fiscal forecasts,” the agency said. Fellow agency Moody’s, which rates Poland one notch above Fitch at A2, cut its rating outlook to negative in May citing fiscal risks and unpredictable policies, while Standard and Poor’s downgraded Poland in January to BBB+ with a negative outlook, one notch below Fitch.