NEW YORK (Standard&Poor's CreditWire) July 27, 2000-- Standard&Poor's today revised its outlook on the Republic of Costa Rica to positive from stable. At the same time, Standard&Poor's affirmed its double-B'-plus long-term local and double-B' long-term foreign currency sovereign credit ratings on the Republic. The single-'B' short-term local and foreign sovereign credit ratings were also affirmed. The change in outlook reflects Costa Rica's continued successful efforts to broaden its economy by promoting high-value-added exports and developing its service sector, as well as the downward trend of external debt in relation to exports. Should policymakers embrace structural reform, stanch losses at the central bank, and tighten fiscal policy, Costa Rica's ratings would be raised. The ratings
