S&P: Poland’s election outcome has no immediate rating impact

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The victory of Law and Justice (PiS) will not affect Poland’s ratings directly, Standard and Poors (S&P) assessed.

S&P said that its positive outlook “continues to reflect what it views as Poland’s broadening economic recovery and improving fiscal and external metrics.” However,  the rating agency stressed that it could revise the outlook to stable if it “saw reversals regarding fiscal consolidation, macroeconomic management, or monetary policy.”

Furthermore, in S&P’s view, some of the planned measures may dampen investor confidence, which in turn could create a drag on Poland’s strong economic performance of late. It also believed that the new ruling party may implement mandatory CHF-denominated mortgages conversion into zlotys, with banks bearing all of the costs.

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