Fitch: Poland down to stable

Fitch Ratings said it has revised Poland's outlook to stable from positive while simultaneously affirming its long-term foreign and local currency issuer default ratings at A- and A, respectively.

Fitch said it has also affirmed Poland's short-term rating at F2 and country ceiling at AA-.

The revision of the outlook to stable from positive reflects key rating drivers that include fiscal slippage and later debt peak, the agency noted.

Following a budget revision in July, Fitch said it forecasts the headline general government deficits in E.U.-harmonized terms to be 4.2% of GDP in 2013, reflecting mainly weaker GDP growth.

The upward revision to deficit forecasts entails a later peak in gross general government debt than Fitch previously assumed.

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