NEW YORK (Standard&Poor's CreditWire) Feb. 10, 2000--Standard&Poor's today revised its outlook on the ratings of the Republic of Argentina to 'stable' from 'negative' and affirmed its outstanding ratings on the government's debt (see list below). The improved rating outlook reflects Standard&Poor's view that President de la Rua's administration, which took office on Dec. 10, 1999, has regained the momentum to pass and implement needed fiscal and structural reforms. Argentina's 2000 budget, passed in line with the requirements of the fiscal convertibility law enacted by the outgoing administration, should cut the country's gross central government deficit to 1.5% of GDP this year from 2.5% in 1999 enabling the general government deficit to be nearly halved
