LONDON (Standard&Poor's) Sept. 22, 2006--Standard&Poor's Ratings Services said today that the breakdown of Poland's coalition government has no effect on the sovereign ratings of the Republic of Poland (foreign currency BBB+/Stable/A-2, local currency A-/Stable/A-2), regardless of whether this results in the formation of a new government coalition, or in early elections later this year. The ratings on Poland remain constrained by a lack of any clear structural reform agenda and by little ambition in consolidating public finances, which led to Standard&Poor's revising its outlook on Poland's sovereign ratings to stable from positive in April 2006. The ejection of the populist Samoobrona (Self Defence) party from the coalition, and the resulting loss of a parliamentary
