LONDON (Standard&Poor's) April 9, 2003--Standard&Poor's Ratings Services said today it affirmed its 'AAA/A-1+' ratings on the Kingdom of Denmark. The outlook is stable. "The ratings on Denmark reflect its enviable track record of macroeconomic stability, underpinned by prudent fiscal management and structural reforms," said Standard&Poor's credit analyst David Cooling. Policymakers' longstanding commitment to fiscal discipline remains robust. With the general government accounts expected to remain in surplus for the seventh consecutive year, and for the foreseeable future, the general government debt burden is forecast to decline to 42% of GDP by year-end 2003, and to 37% of GDP by year-end 2005. The sustained decline in the public debt burden, coupled with a robust pension
