NEW YORK (Standard&Poor's) Oct. 10, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on the Republic of Costa Rica to stable from positive. Standard&Poor's also said that it affirmed its 'BB/B' foreign-currency and 'BB+/B' local-currency sovereign credit ratings on the republic. In addition, Standard&Poor's affirmed its 'BBB-' transfer and convertibility assessment of Costa Rica. Standard&Poor's also affirmed its 'BB+' long-term debt ratings on Costa Rica's foreign-currency senior unsecured debt. The foreign-currency debt ratings are one notch above the credit rating to reflect both default and recovery prospects. The recovery rating of'2' remains unchanged. The '2' rating indicates an expectation for substantial (70%-90%) recovery in the event of a
