LONDON (Standard&Poor's) June 6, 2005--Standard&Poor's Ratings Services said today it affirmed its 'B' long-term and 'B' short-term sovereign credit ratings on Burkina Faso. The outlook is stable. "The ratings on Burkina Faso are constrained by a low level of economic development and a very narrow economic base," said Standard&Poor's credit analyst Sarah N'SondLONDON (Standard&Poor's) June 6, 2005--Standard&Poor's Ratings Services said today it affirmed its 'B' long-term and 'B' short-term sovereign credit ratings on Burkina Faso. The outlook is stable. "The ratings on Burkina Faso are constrained by a low level of economic development and a very narrow economic base," said Standard&Poor's credit analyst Sarah N'Sondé. "GDP per capita is low, social indicators are very weak, and the economy is highly dependent on the cotton industry and external aid." The ratings are also constrained by a lack of fiscal flexibility. Against the inauspicious economic background, the general government deficit is expected to be about 4.7% of GDP in 2005. This is due to a low level of
