Poland's 'A-' rating seen “solid & resilient” - Fitch
January 21, 2013
Poland's 'A-' rating is "solid and resilient", but upside remains limited, while "a very severe slowdown" would constitute a downside risk for the rating, Fitch Ratings sovereign debt analyst Matteo Napolitano told reporters on Friday.
The upside for CEE ratings is limited, as those are tied to ratings in the euro area, which are not likely to improve soon, the analyst said.
"In order to loosen this linkage in the medium term, CEE countries could implement reforms more strongly," Napolitano said. "In the case of Poland that could be improving its debt to GDP and external debt to GDP ratios."
Napolitano expects the European Commission to lift Excessive deficit Procedure against Poland.
Poland's 2013 growth is forecast by Fitch at 1.8%, with some downside risk, the Fitch official said, noting though, that "there is some room in monetary policy that might offset some of the slowdown."