LONDON (Standard&Poor's) Aug. 17, 2004--Standard&Poor's Rating Services said today it assigned its 'A-' long-term senior unsecured debt rating to the upcoming inflation-linked treasury bond to be issued by the Republic of Poland (foreign currency BBB+/Negative/A-2; local currency A-/Negative/A-2), due in 2016. Poland's Ministry of Finance has announced that it will offer Polish zloty (PLN) 500 million ($92 million) at the first ever tender of the new instrument on Wednesday, Aug. 18, 2004. The value of the entire bond issuance program has been set at PLN 30 billion. The new bond carries a 3% annual coupon, but its nominal face value is indexed to inflation on the basis of monthly inflation released by Poland's Central Statistical Office.
