Fitch: Poland is one of CEE's most secure countries

By bne IntelliNews July 11, 2013

Poland and the Czech Republic appear much more secure than many of their CEE peers, notwithstanding less resilient growth in the former and continuing recession and increased political instability in the latter, according to a report by Fitch Ratings.

Fiscal funding needs are well covered in both, while Poland enjoys the additional comfort of an IMF Flexible Credit Line.

Fitch said that protracted recession in the Eurozone, coupled with a reversal in global risk appetite for emerging market assets in Q2 of 2013 following US Fed's comments on an exit from quantitative easing, have taken the edge off of economic recovery in Emerging Europe, including Russia and Turkey.

In February 2013, Fitch revised the outlook on Poland's Long-Term foreign and local currency Issuer Default Ratings (IDRs) to positive from stable and affirmed the IDRs at 'A-' and 'A', respectively.

Related Articles

EU top court rules Poland broke law by logging in ancient forest

Poland broke EU law by increasing logging in the ancient Bialowieza Forest under a pretext of fighting spruce beetle, the Court of Justice of the European Union (CJEU) ruled on April 17. The ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Dismiss