NEW YORK (Standard&Poor's CreditWire) Aug. 11, 2000-- Standard&Poor's today assigned its single-'B'-plus rating to the Republic of Brazil's US$5.16 billion Global Bond due 2040 (callable beginning Aug. 17, 2015) in exchange for $5.22 billion in outstanding Brady bonds. The outlook remains positive. The outlook reflects prospects for continued solid macroeconomic management, based, in part, on the passage of structural reform (such as the fiscal responsibility law) in early 2000. An upgrade in the near-term rests on the continued development of a strong fiscal track record. This would be supported by effective implementation of the 2000 budget (recognizing that the fiscal overperformance to date is likely to diminish) and presentation of a credible 2001 budget (consistent with
