LONDON (Standard&Poor's) Oct. 7, 2004--Standard&Poor's Ratings Services said today it revised its outlook on the Republic of Poland to stable from negative. At the same time, the 'BBB+/A-2' foreign currency and 'A-/A-2' local currency sovereign credit ratings on Poland were affirmed. "The outlook revision reflects Poland's strengthened external position and a modest improvement in fiscal performance compared with earlier expectations," said Standard&Poor's credit analyst Beatriz Merino. Robust export growth has contributed to a narrowing of the current account deficit, projected at less than 2% of GDP in 2004, which is likely to be largely financed by the recovery of net foreign direct investment inflows. The external gap is expected to increase gradually, but will
