NEW YORK (Standard&Poor's) July 28, 2003--Standard&Poor's Ratings Services said today that it revised its outlook on its long-term foreign currency sovereign credit rating on the Republic of Suriname to stable from positive. Standard&Poor's also affirmed its 'B' long-term local and 'B-' long-term foreign currency sovereign credit ratings on the republic. The outlook on the long-term local currency rating remains stable. According to sovereign analyst Olga Kalinina, the outlook revision reflects Suriname's worsening fiscal and monetary stance. "The deteriorated fiscal and monetary positions are counterbalanced by Suriname's improving growth prospects and promising investment projects, some already started and some under final review. The inflow from these projects—in the bauxite, oil, and gold mining sectors—is expected
