S&P: Poland up to positive

Standard & Poor's said it revised its outlook on the Republic of Poland to positive from stable. At the same time, the BBB+ long-term and A-2 short-term foreign currency and the A- long-term and A-2 short-term local currency ratings on Poland were affirmed.

S&P said the outlook revision reflects the improvement in Poland's medium-term fiscal outlook compared with earlier expectations.

S&P said its baseline fiscal scenario reflects expectations that the next government will continue the fiscal reform effort initiated by the current administration, resulting in the gradual decline of the general government deficit to 5.9% in 2005 and 4.7% by 2007 from about 7.0% of GDP in 2004.

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