Friday, February 6, 2015

Polish economy is getting stronger. Standard & Poor’s gives better … – Money.pl

Polish economy is getting stronger. Standard & Poor's gives better … – Money.pl

2015-02-06 19:58

 Polish economy is getting stronger. Standard & amp; Poor's gives a better assessment of

[Photo: Andrew Wawok / Reporter]


Standard & amp; Poor’s (S & amp; P) upgraded the Polish outlook from stable to positive. According to the Minister of Finance Matthew Szczurek agency underestimated the strength of the Polish economy and the sustainability of public finances.

On Friday, ratings agency Standard & amp; Poor’s (S & amp; P) raised the Polish rating outlook from stable to positive. At the same time confirmed the country’s credit rating at A- / A-2 foreign currency liabilities and A / A-1 to the obligations of the national currency.

– Rising outlook reflects the ever-growing credibility Polish credit in the financial markets. S & amp; P underestimated the strength of the Polish economy and the sustainability of public finances, and found that a solid foundation of economic growth will contribute to an increase in the level of income in Poland, which will translate into higher creditworthiness in the perspective presented forecasts – rated Szczurek.

He noted that the rating agency in its communication stressed that raising the rating in the next two years will be possible in the case of: further convergence of income from the richer EU countries as a result of the diversified structure of economic growth; further increase in the efficiency of the governmental economic policy; faster than projected in the baseline scenario, the improvement of the external debt indicators of the Polish economy.

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According to the head of the Ministry of Finance increase in outlook by S & amp; P for positive means that there is a 1/3 probability of an increase in Polish rating over the next two years. The last time the S & amp; P raised its rating Polish in 2007. From BBB + to A- (in foreign currencies).

The last hike Polish rating by other agencies took place in March 2013., When the Japanese rating agency Japan Credit Rating Agency (JCR) raised its Polish from A- for foreign currency to the level of A, and the national currency from A to A + level. Following the increase, both ratings have a stable outlook.

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