Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Zloty Climbs as Fitch Revises Poland Rating Outlook to Positive

Feb. 22 (Bloomberg) -- The zloty advanced after German business confidence rose to a 10-month high and Fitch Ratings revised its outlook on Poland’s A- credit rating to positive.

Fitch’s revision from a stable outlook reflects a narrowing of the country’s budget deficit and a stabilization of public debt, the company said in a statement yesterday. German business confidence advanced more than forecast in February, adding to signs that Europe’s largest economy and Poland’s biggest trade partner, is gathering strength.

“We see scope to increase Poland’s rating sometime in the next two years,” analysts at ING Bank Slaski SA in Warsaw, led by Rafal Benecki, said in a research note today. “More stability in the euro region and further fiscal consolidation are key” for Poland to receive the upgrade, ING wrote.

The Polish currency gained less than 0.1 percent to 4.1602 against the euro, at 4:42 p.m. in Warsaw. The yield on the government’s benchmark 10-year zloty bond was unchanged at 3.99 percent, according to data compiled by Bloomberg.

Fitch’s announcement won’t be a “game changer” for Polish debt, Ernest Pytlarczyk, chief economist at BRE Bank SA in Warsaw, said in a research note today.

To contact the reporter on this story: Piotr Bujnicki in Warsaw at pbujnicki@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.