Global ratings agency Moody’s on Saturday cut Poland’s outlook from stable to negative over “fiscal risks” posed by its right-wing government, but left its investment grade unchanged. Moody’s change in outlook is its first in over a decade and comes after a deeper ratings cut in January by Standard and Poor’s, which blamed the Law and Justice (PiS) government for “weakening institutions.” It, however, said Poland’s foreign debt grade will remain at A2, the fifth lowest investment rating. “The affirmation of Poland’s A2 rating reflects the country’s economic resilience,” a statement said. “Poland has a large, diversified economy that has shown robust real GDP growth in recent years, despite being exposed to significant external headwinds at the time of the global financial and euro area debt crises.”
Published in The Express Tribune, May 15th, 2016.
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