LONDON (Standard&Poor's) Sept. 25, 2006--Standard&Poor's Ratings Services said today it affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on the Kingdom of Denmark. The outlook is stable. "The ratings on Denmark reflect policymakers' longstanding commitment to fiscal discipline," said Standard&Poor's credit analyst Ana Mates. "The general government is expected to continue posting significant fiscal surpluses, equivalent to 1%-2% of GDP in the medium to long term, excluding flows to and from the defined contribution pension system." Having peaked at 80% of GDP in 1993, general government debt is expected to fall to an estimated 32% of GDP by year-end 2006 and is forecast to continue declining steadily in the medium term. The
