S&P affirms Poland

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

S&P said this follows the announcement that the Polish government plans to buy back up to €12.3 billion of outstanding Paris Club debt, subject to creditor participation.

The proposed early repayment is likely to increase the average maturity of the central government's foreign debt, thereby reducing refinancing risk, according to S&P.

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