The Japan Credit Rating Agency (JCR) on Friday increased Poland's foreign exchange credit rating from A minus to A and national currency credit rating from A to A plus.

After the upgrade both ratings have a stable outlook, the Finance Ministry said in a statement.

After Fitch Ratings revised Poland's ratings outlook from “stable to positive” a week earlier the JCR’s decision is another evidence of Poland's growing credit worthiness on international financial markets, the Finance Ministry’s statement reads.

This is the first increase of Poland’s rating since six years ago when S&P agency upgraded the country’s rating. Last time that the JCR agency increased Poland’s rating was some ten years ago, Wojciech Kowalczyk, the Polish deputy finance minister said.