FRANKFURT (Standard&Poor's) March 29, 2007--Standard&Poor's Ratings Services said today that it raised its long-term foreign-currency credit rating on the Republic of Poland to 'A-' from 'BBB+' and its long- and short-term local currency ratings to 'A/A-1' from 'A-/A-2'. At the same time, the 'A-2' foreign currency short-term rating was affirmed. The outlook is stable. "The upgrade reflects Poland's strong and balanced growth prospects, which have remained decoupled from the country's deteriorating political environment," said Standard&Poor's credit analyst Kai Stukenbrock. "Further ratings support stems from a competitive and increasingly diversified economy and a moderate and declining external debt burden." The ratings remain constrained, however, by political instability that obstructs progress in structural reforms, a high
