According to the rating agency, Poland will be able to weather most macroeconomic risks stemming from the Russia-Ukraine war over the coming two years due to a diversified economy, the flexibility of the labor and product markets, and an educated workforce.
Among other favorable factors contributing to the rating, S&P mentioned Poland's membership in the EU and NATO, a "relatively secure" energy supply outlook and "manageable public and private debt, access to ample non-debt-creating external funding including EU transfers, and relatively deep domestic capital markets."
S&P however said that Poland could risk a credit rating downgrade if the impact of the war in Ukraine became stronger or if transfers from the EU subsided.
Among the three major rating agencies, Moody's offers Poland the highest rating, on the A2 level. According to Fitch Poland's rating is 'A-.' All three give Poland a 'stable' outlook.
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