NEW YORK (Standard&Poor's CreditWire) Nov. 10, 1999-- Standard&Poor's today affirmed its single-'B'-plus foreign currency and its double-'B'-minus local currency long-term sovereign credit ratings on the Republic of Brazil. The single-'B' short-term foreign and local currency sovereign credit ratings were also affirmed. At the same time, Standard&Poor's affirmed its single-'B'-plus long-term foreign currency rating on Brazil's US$64.2 billion of debt and its double-'B'-minus long-term and single-'B' short-term local currency ratings on the Republic's R$403.3 billion of real-denominated debt. The outlook on all of the ratings is revised to stable from negative. The stable outlook reflects the recovery of financial stability earned through recent fiscal austerity and monetary discipline. Likely achievement of this year's 3.1% of
