NY -- Standard&Poor's CreditWire 10/29/98 -- Standard&Poor's today affirmed the Republic of Poland's triple-'B'-minus long-term foreign currency sovereign and senior unsecured ratings and its single-'A'-minus local currency sovereign and senior unsecured ratings. Standard&Poor's also affirmed the 'A-1' short-term local currency and 'A-3' short-term foreign currency ratings on the republic. The outlook on the ratings is positive. The positive outlook reflects the view that despite the significantly worsened international financial and economic environment, Poland's solid fiscal and financial fundamentals and strong external liquidity position will support an expected upgrade within the next couple of years. The collapse of Russia's economy will have little impact on Poland's economy, given its low financial and trade exposure to
