Fitch affirms Poland's rating at 'A-' with Stable Outlook.

By bne IntelliNews March 1, 2012
Fitch Ratings has affirmed Poland's Long-term foreign currency Issuer Default Rating (IDR) at 'A-', and its Long-term local currency IDR at 'A'. The Outlook on both ratings is stable, according to the agency's press release. Fitch has simultaneously affirmed Poland's Short-term rating of 'F2' and Country Ceiling of 'AA-'. "The government's progress in fiscal consolidation in 2011, and plans for further deficit reduction in 2012, have eased prior downward pressure on Poland's rating," says Matteo Napolitano, Director in Fitch's Sovereign Group, cited in the release. "Poland's growth performance, macroeconomic resilience, credible monetary and exchange rate regime, financing flexibility and relatively strong banking sector also support its ratings," he adds.

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