S&P Global Ratings affirmed Poland’s long-term foreign currency rating at ‘A-’ with a stable outlook, citing a balance between strong medium-term growth prospects and rising debt risks. “The stable outlook reflects the balance between Poland’s resilient medium-term growth prospects over the next two years and the risk of rising economic vulnerabilities related to the country’s rapidly increasing debt,” the agency said.
The decision contrasts with both Fitch’s and Moody’s moves to revise Poland’s outlook to negative, citing mounting fiscal pressures amid a wide budget deficit.
S&P noted that Poland’s fiscal outlook remains weak, with net general government debt projected to rise to 67% of GDP by 2028.
The increase is attributed to high defense and social spending, as well as anticipated costs related to the 2027 parliamentary elections.
Moody’s credit rating for Poland was last set at A2 with a negative outlook, while DBRS’s credit rating was last reported at A with a stable outlook.