S&P raises Poland

Standard & Poor's said it raised its long-term foreign-currency credit rating on the Republic of Poland to A- from BBB+ and its long- and short-term local currency ratings to A/A-1 from A-/A-2.

At the same time, the A-2 foreign currency short-term rating was affirmed, the agency said.

The outlook is stable.

According to the agency, the upgrade reflects the country's strong and balanced growth prospects, which have remained decoupled from Poland's deteriorating political environment.

Further ratings support stems from a competitive and increasingly diversified economy and a moderate and declining external debt burden, S&P said.

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