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Moody’s keeps Poland’s rating unchanged

UniCredit

The Moody’s agency has said it has not updated its rating for Poland. The Ministry of Finance in Warsaw said that means the agency has kept Poland’s rating unchanged at A2 with a negative outlook.

A review was expected by some on Friday.

The country’s rating remains at the level of A2/P-1 for long and short term liabilities respectively in foreign and local currency with a negative outlook, the Polish finance ministry said.

Poland’s Deputy Prime Minister Mateusz Morawiecki, who is also Development Minister, told the Polish Press Agency he is happy with Moody’s decision because the best possible assessment of the state of the Polish economy by foreign investors is in Poland’s interests.

In his view, the decision to keep Poland’s credit rating unchanged is proof that the long-term potential of the country’s economic growth is positive.

Morawiecki stressed that the A2 rating is higher than that given by the same agency to Italy, Spain, Portugal and the majority of developing countries.

Konrad Białas, chief economist for TMS Brokers, told the Onet.pl website that Morawiecki and the government have nothing to worry about for the time being as the agency has not changed its assessment of the situation in Poland since May.

Andrzej Tomczyk, the director of Admiral Markets for Central and Eastern Europe, told Onet.pl that keeping Poland’s credit rating at A2 is good news for the Polish economy.

“It is a decision which, in a short-term perspective, should result in the strengthening of the Polish currency and a more stable situation on the sovereign debt market”, he said.


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