SPGI · News · 20261106N

Poland Sovereign Outlook Downgrade

S&P Global Inc. · 2026-11-06 · Importance 10 · Surprise 24

S&P Global Ratings revised Poland’s outlook to negative from stable on November 6, 2026, citing widening budget deficits and rapid debt accumulation. It affirmed the foreign-currency ratings at 'A-/A-2' and lowered the local-currency ratings from 'A/A-1' to 'A-/A-2'. The agency said the changes reflect reduced fiscal and institutional flexibility.

Key facts

• S&P Global Ratings revised Poland’s outlook to negative from stable on Friday. source
• S&P Global Ratings downgraded Poland’s local currency rating to 'A-/A-2' from 'A/A-1'. source
• S&P Global Ratings affirmed Poland’s foreign currency credit ratings at 'A-/A-2'. source
• S&P Global Ratings warned that widening budgetary deficits and rapid debt accumulation threaten Poland’s policy flexibility. source
• S&P Global Ratings said aligning Poland’s foreign and local currency rating benchmarks reflects reduced fiscal and institutional leeway. source