Fitch affirms Poland at 'A-' with outlook stable
February 17, 2014
Poland had its long-term foreign currency Issuer Default Rating (IDR) at 'A-' and local currency IDR at 'A' with stable outlooks, Fitch rating agency said in a statement on Friday.
The issue ratings on Poland's senior unsecured foreign and local currency bonds have also been affirmed at 'A-' and 'A', respectively.
The Country Ceiling has been affirmed at 'AA-' and the Short-term foreign currency IDR at 'F2'.
The Polish economy has shown a high degree of resilience and stability, Fitch said.
The agency forecasts that real GDP growth will pick up to 3% in 2014 and 3.2% in 2015 from 1.6% in 2013, above eurozone and regional averages, but slightly below the 'A' category median.
Growth drivers are likely to shift from net exports to domestic demand, as household consumption and private investment recover, the agency said.