22:15 12 November 2025
S&P keeps Poland at A-
S&P Global Ratings has reaffirmed Poland’s long-term foreign currency rating at A- with a stable outlook, citing balanced prospects for medium-term growth and rising debt-related risks. The agency warned that a downgrade could occur if growth weakens, macroeconomic imbalances widen, or external shocks—such as an escalation of Russia’s war in Ukraine—further strain public finances and security.
An upgrade, S&P noted, would require lower fiscal deficits, declining debt, and continued improvements in institutional quality, governance, and foreign investment inflows.
Earlier this year, Moody’s and Fitch both revised Poland’s outlook to negative but maintained their existing ratings. Among the three major agencies, Moody’s remains the most optimistic, rating Poland at A2, one notch above Fitch and S&P, which both hold the country at A-.
