LONDON -- Standard&Poor's CreditWire 5/26/98 -- Standard&Poor's today affirmed its single-'A'-plus long-term foreign currency sovereign credit and senior unsecured ratings as well as its 'A-1'-plus short-term foreign currency sovereign credit and commercial paper ratings on Iceland. At the same time, the outlook on the long-term ratings is revised to positive from stable. Standard&Poor's also affirmed its double-'A'-plus long-term local currency sovereign credit rating and assigned its 'A-1'-plus short-term local currency sovereign credit rating on Iceland. The outlook on the long-term local currency ratings remains stable. The ratings and positive foreign currency outlook are supported by: -- Prudent economic policies that have produced a stable macroeconomic environment characterized by low inflation, stable currency, modest fiscal
