Fitch revises outlook on Poland's railway carrier PKP's rating to negative
Fitch rating agency has revised the outlooks on Poland's railway carrier PKP's long-term foreign- and local-currency Issuer Default Ratings (IDRs) to negative from stable, while affirming the IDRs at 'A-', Fitch said in a statement.
On September 5, 2025, Fitch changed the outlook for Poland's long-term ratings from stable to negative, affirming the ratings at ‘A-’. This resulted in a change in the rating outlook for PKP, whose ratings are aligned with those of Poland.
"Fitch views PKP as a government-related entity of the Polish state and equalises its ratings with those of the sovereign. This results from the combination of support from the Polish state, which we view as 'Extremely likely' and a 'bbb' SCP, which is two notches down from the sovereign's rating," Fitch said.
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