Bulletin: Poland's Parliamentary Election Outcome Has No Immediate Rating Impact

FRANKFURT (Standard&Poor's) Oct. 26, 2015--Standard&Poor's Ratings Services said today that the outcome of Sunday's general election has no immediate impact on its sovereign credit ratings on Poland (foreign currency A-/Positive/A-2; local currency A/Positive/A-1). The ruling coalition of the Civic Platform (PO) and the Polish People's Party (PSL) lost their majority in parliament, as was widely expected after the loss of PO-supported incumbent Bronislaw Komorowski in May's presidential elections. After months of intense campaigning, Poland's Law and Justice (PiS) party looks likely to have gained an absolute majority in yesterday's parliamentary election. PiS' political and economic platform ahead of the election included extensive spending plans, among other things, a higher tax-free allowance, additional childcare benefits, and higher

...FRANKFURT (Standard & Poor's) Oct. 26, 2015--Standard & Poor's Ratings Services said today that the outcome of Sunday's general election has no immediate impact on its sovereign credit ratings on Poland (foreign currency A-/Positive/A-2; local currency A/Positive/A-1). The ruling coalition of the Civic Platform (PO) and the Polish People's Party (PSL) lost their majority in parliament, as was widely expected after the loss of PO-supported incumbent Bronislaw Komorowski in May's presidential elections. After months of intense campaigning, Poland's Law and Justice (PiS) party looks likely to have gained an absolute majority in yesterday's parliamentary election. PiS' political and economic platform ahead of the election included extensive spending plans, among other things, a higher tax-free allowance, additional childcare benefits, and higher subsidies to coal mining and other industries. PiS plans to offset these higher outlays through improved tax compliance and additional levies and taxes...

Bulletin