{
  "schema_version": 1,
  "id": "2221",
  "url": "https://agentpress.tv/e/2221/s-and-p-cuts-polands-local-currency-debt-rating-and-sets-negative-outlook",
  "title": "S&P cuts Poland’s local-currency debt rating and sets negative outlook",
  "title_origin": "article",
  "summary": "S&P Global Ratings lowered its rating on Polish debt denominated in zloty and changed the sovereign outlook from stable to negative, citing worsening public finances and political obstacles to budget consolidation.",
  "level": 2,
  "domain": "macro",
  "importance": {
    "score": 62,
    "components": {
      "magnitude": 72,
      "sources": 25,
      "novelty": 78,
      "question": 75
    }
  },
  "relevance": 91,
  "sources_n": 1,
  "independent_24h": 1,
  "first_reported": "2026-11-08T11:01:27.000Z",
  "updated": "2026-11-08T11:01:27.000Z",
  "entities": [
    "Poland",
    "S&P Global Ratings"
  ],
  "outlets": [
    "zf.ro"
  ],
  "candidate_question": {
    "type": "binar",
    "text": "Will S&P Global Ratings lower Poland’s local-currency sovereign credit rating again by 2026-12-31?",
    "resolution_source": "S&P Global Ratings’ published sovereign rating actions for Poland",
    "deadline": "2026-12-31"
  },
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    "alt": "A glass sign reading “S&P Global Ratings” hangs on a stone wall as three people walk into a modern office building.",
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  "article": {
    "title": "S&P cuts Poland’s local-currency debt rating and sets negative outlook",
    "body": "S&P Global Ratings lowered its assessment of Poland’s debt in the national currency and changed the country’s sovereign outlook from stable to negative, according to ZF. The agency announced the decision on November 6, the outlet reported. It cut the local-currency rating from “A/A-1” to “A-/A-2,” while leaving its ratings for foreign-currency debt unchanged at “A-/A-2,” according to ZF.\n\nThe rating agency cited deteriorating public finances, rapid growth in government debt and political difficulties that are holding back budget-consolidation measures, ZF reported. S&P expects Poland’s general-government deficits to average more than 6% of gross domestic product in coming years, according to the outlet. ZF reported that the agency expects the deficit to remain elevated over that period.\n\nSpending pressures include military costs estimated at about 4% to 5% of GDP, as well as higher social spending and public-sector wage costs, ZF reported. The outlet said S&P views the country’s fiscal deterioration in recent years as among the most significant internationally.\n\nPoland’s net public debt, measured after liquid assets are deducted, is projected to exceed 70% of GDP in 2029, compared with about 53% in 2025, according to ZF. Despite the fiscal concerns, the country continues to record economic growth faster than that of many European economies, the outlet reported.\n\nThe outlook change signals concern about the direction of Poland’s public finances, while the ratings for foreign-currency debt were not changed, ZF reported. The agency’s decision reflects both the fiscal pressures and the political challenges to measures aimed at containing deficits, according to the outlet.",
    "published": "2026-11-08T19:24:06.053Z"
  },
  "sources": [
    {
      "n": 1,
      "published_utc": "2026-11-08T11:01:27.000Z",
      "outlet": "zf.ro",
      "title": "S&P retrogradează perspectiva ratingului Poloniei la negativă şi reduce calificativul datoriei în zloţi. Deficitul bugetar va depăşi 6% din PIB, iar datoria publică se apropie de 70%",
      "url": "https://zf.ro/business-international/s-p-retrogradeaza-perspectiva-ratingului-poloniei-la-negativa-si-reduce-calificativul-datoriei-in-zloti-deficitul-bugetar-va-depasi-6-din-pib-iar-datoria-publica-se-apropie-de-70-23277150"
    }
  ]
}