S&P affirms rating for Poland

Standard and Poor’s has left Poland’s long-term and short-term foreign-currency credit rating at A/A-2, with A/A-1 long-term and short-term rating for the local currency, and stated that its outlook at this point remains stable. The announcement came on Tuesday, as the Polish zloty was trading at its strongest rate against the euro in a year. The agency wrote that its decision reflected Poland’s “commitment to further fiscal consolidation and monetary flexibility.” Standard and Poor’s said also that Poland’s floating exchange rate helps its economy resist the financial turmoil raging outside.