On Feb. 21, 2008, Standard&Poor's Ratings Services revised its outlook on the long-term foreign currency sovereign credit rating on the Republic of Poland to positive from stable. At the same time the 'A-/A-2' foreign currency and 'A/A-1' local currency ratings were affirmed. The outlook on the long-term local currency sovereign credit ratings is stable. The outlook revision reflects the better environment for fiscal and structural reform under the newly formed government. This should further drive down government deficits and bolster Poland's Eurozone accession prospects, reducing external financing pressures and currency risk. The formation of a new government in October 2007, comprising Civic Platform (PO) and the Polish Peasants' Party (PSL), has led to a gradual shift towards market-oriented
