Poland's stable public finances, monetary policy flexibility, and moderate external financing needs continue to underpin its creditworthiness, in our view. We are affirming our 'A-/A-2' foreign currency and 'A/A-1' local currency ratings on Poland. The positive outlook reflects at least a one-in-three probability that we could raise the ratings over the next 18 months if strong growth led to further income convergence and we do not see weakening in Poland's macroeconomic or fiscal policies. On Aug. 7, 2015, Standard&Poor's Ratings Services affirmed its 'A-/A-2' long- and short-term foreign currency and 'A/A-1' long- and short-term local currency sovereign credit ratings on Poland. The outlook remains positive. The ratings on Poland remain supported by its sound macroeconomic management, stable public
