Poland outlook grim
WARSAW: Global ratings agency Moody’s on Saturday cut Poland’s outlook from stable to negative over ‘fiscal risks’ posed by its rightwing 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 government for ‘weakening institutions’. It, however, said Poland’s foreign debt grade will remain at A2, the fifth lowest investment rating. Poland’s finance ministry welcomed unchanged rating following market speculation about another downgrade. The ‘rating is one notch higher than Fitch’s rating and two notches higher than S&P’s rating from January this year’, the ministry said.