Credit rating agencies tighten stranglehold on Poland

EPA/JUSTIN LANE

A file photograph dated 29 April 2010 showing a view of the offices of Fitch Ratings in New York, New York, USA.

Fitch is the last of the big three warning Poland not to take on its banks and limit social spending


What began as a standoff between the Polish government and the Standard and Poor’s’ credit rating agency is now evolving into a proper stranglehold on the Polish government. The zloty is sliding to 10-year lows against all major currencies.

Fitch Ratings warned Poland Wednesday that an increased government deficit will trigger a cut to its rating of Poland.  Moody’s preceded Fitch on Tuesday. The first of course was Standard & Poor’s (S&P) credit rating agency on Friday, January 15, w...


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