S&P affirms Poland

Standard & Poor's said it affirmed its A-/A-2 long- and short-term foreign currency and A/A-1 long- and short-term local currency sovereign credit ratings on the Republic of Poland. The outlook remains stable.

The transfer & convertibility assessment is unchanged at A+.

The agency said the ratings on Poland are supported by S&P's view of the country's commitment to continued fiscal consolidation and its monetary flexibility, with its floating exchange rate enabling Poland's resilient economy to adjust to external shocks.

The ratings are constrained by S&P's view of Poland's relatively high levels of government debt, comparatively low per capita GDP and large external financing needs.

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