2025.11.0905:39:27UTC+00S&P Affirms Poland’s ‘A-’ Rating; Outlook Stable

S&P Global Ratings has maintained Poland's long-term foreign currency rating at ‘A-’ with a stable outlook, balancing strong growth prospects over the medium term against the risk of increasing debt. The agency highlighted the resilience of Poland's growth potential over the next two years, despite concerns about rising economic vulnerabilities stemming from the nation's rapidly accruing debt. This decision stands in contrast to Fitch and Moody's, both of which have adjusted Poland's outlook to negative due to growing fiscal pressures and a significant budget deficit. S&P's assessment points to a weak fiscal outlook, predicting that net general government debt will reach 67% of GDP by 2028. This rise is largely attributed to substantial defense and social expenditures, along with expected costs associated with the 2027 parliamentary elections. Currently, Moody’s assigns Poland a credit rating of A2 with a negative outlook, whereas DBRS rates it at A with a stable outlook.