NY -- Standard&Poor's CreditWire 4/2/97 -- Standard&Poor's today has raised its rating on the Republic of Argentina's US$62.2 billion of long-term foreign currency debt to double-`B' from double-`B'-minus. Also, Standard&Poor's has affirmed its triple-`B'-minus rating on the Republic's US$7.3 billion of long-term peso-denominated debt together with its single-`B' and `A-3' ratings on short-term dollar- and peso-denominated LETES, respectively, currently totaling US$2.6 billion. The rating outlook is stable. The ratings reflect: -- A six year-old political commitment to prudent fiscal and financial policies that has weathered recession and elections, and favorably distinguishes Argentina from other double-`B' rated sovereigns. The achievement of price stability and financial predictability anchors popular support for the convertibility plan, and makes
