Locked content Moody’s changes PKO BP’s outlook to negative

Rating Agency Moody’s has today affirmed the A2/Prime-1 long and short-term deposit ratings of PKO Bank Polski (PKO BP). Moody’s has also revised the outlook on the long-term deposit ratings to negative from stable. According to the agency, the rating was revised mainly because of the go...

Locked content Polish Finance Minister comments on Moody’s decision

Polish Finance Minister Paweł Szałamacha has commented on rating agency Moody’s maintaining Poland’s long-term foreign debt grade at A2 and changing the outlook from stable to negative. “Moody’s rating for Poland is considered to be objective and acceptable. I would question ...

Locked content Belka: Moody’s decision is not dramatic for Poland

“Moody’s final decision on reducing Poland’s ratings will not result in any potential drama,” proclaimed Marek Belka, Head of National Bank of Poland, during the RPP conference. According to Belka, any downgrade or change in outlook without switching the category would not be...

Locked content Moody’s warns constitutional crisis may impair investment climat...

Poland is facing heightened political risk as a result of its constitutional crisis, triggered by a struggle over the appointment of Constitutional Court judges and by controversial new legislation that limits the Court’s powers. These developments may impair Poland’s attractiveness for foreign inve...

Locked content Moody’s: Polish banks will lose PLN 36 bln on FX loans conversio...

Rating agency Moody’s said that the upfront costs for banks of converting foreign-currency mortgages (mostly Swiss franc-denominated) into the local currency, the złoty, would be credit negative for banks because it would result in one-off losses, of PLN36 billion at the time of implementation...

Locked content Moody’s: Retail tax may wipe out Tesco’s profits

Rating agency Moody’s said in its report that a tax on retailers proposed by Poland’s government is credit negative for the largest foreign retailers operating in Poland, in particular for Tesco and Carrefour. This is because they generate monthly sales of more than PLN300 million and wi...

Locked content Moody’s: Bank tax threatens banks’ profitability

Rating agency Moody’s on Monday assessed that a tax on banks’ assets of 0.44 percent a year will cost the sector about PLN 4.4 billion this year, equal to around 32 percent of banks’ annualized earnings for the first ten months of 2015. The bank tax risks reducing  banks’ return on asset...