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S&P confirms its ratings
Rating agency S&P confirms its view of Poland's institutional strength erosion, which led to the January 2016 rating downgrade, S&P chief analyst for Poland Felix Winnekens told the daily Dziennik Gazeta Prawna, commenting on the most recent legislative proposals regarding the judiciary.
The agency will continue to monitor the situation and still believes that the weakening of Polish institutional framework may have a negative effect on investment sentiment and mid-term GDP growth, Winnekens said.
S&P's next rating review for Poland is slated in late October. Rating cuts are unlikely in the coming months, even if agencies pay close attention to the situation at courts, Credit Agricole economist Jakub Borowski commented.
A factor to watch, though, is Poland's perception by foreign investors, also in reaction to a potential escalation of the rule-of-law procedure in the EC. While the planned changes in the judiciary may arouse concern, economic and fiscal data are positive, so no alarm bells will ring for now, BZ WBK economist Piotr Bielski said.