January 15, 2014 / 6:21 PM / in 4 years

Moody's: Poland's inclusion in IMF risk list is "credit positive"

WARSAW, Jan 15 (Reuters) - Rating agency Moody’s said on Wednesday that IMF’s decision to add Poland to a list of countries that must have regular check-ups of their financial sectors had improved the country’s creditworthiness.

“We think the additional IMF scrutiny ... will further enhance the resilience of Poland’s healthy financial sector and limit contingent liabilities to the sovereign, a credit positive,” Moody’s lead analyst on Poland, Jaime Reusche, said in a statement.

The International Monetary Fund (IMF) on Monday added Denmark, Finland, Norway and Poland to its list of systemically important financial markets, under an effort to prevent a repeat of the global financial crisis.

All Poland’s ratings are comfortably within the investment grade bracket. Moody’s rates Poland at A2 and Standard & Poor’s at A-, both with a stable outlook.

Moody’s analyst also said that Polish banks maintain high levels of profitability, capitalisation and risk-absorption capacity.

“(The sector) benefits from prudent oversight by the Polish Financial Supervision Authority (KNF), which will be further enhanced by the IMF’s regular financial sector assessments,” Reusche said. (Reporting by Marcin Goettig)

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