S&P unexpectedly upgrades rating on Poland

By MARCIN GOETTIG

download-22.png

WARSAW, April 13 (Reuters) - Rating agency S&P Global surprisingly changed the outlook on Poland's BBB+ sovereign rating to positive from stable on Friday citing the country's robust economic and fiscal performance.

[...]

"The outlook revision also speaks to our rising confidence that tax administration reforms have generated a secular increase in public revenues of around 0.5 percent of GDP," the agency said.

S&P also said it could raise Poland's rating if the economy continued to expand at a buoyant pace without generating large net external financing needs, and should government debt to GDP remain on a clear downward trend.