Fitch gives Poland bond BBB+

Fitch Ratings said it assigned the Republic of Poland's upcoming 10-year euro-denominated bond, which is expected to total around EUR3billion, an expected BBB+ rating with a positive outlook.

"The introduction of public finance measures that underpin a credible and sustainable program for reducing the budget deficit over the medium term is the key to an upgrade of Poland's rating," said Edward Parker, head of Emerging Europe Sovereigns at Fitch.

"However, nearly four months on from parliamentary elections and despite the publication of a draft budget for 2006 and a new euro convergence plan, the outlook for public finances remains uncertain."

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