NEW YORK (Standard&Poor's) Dec. 1, 2006--Standard&Poor's Rating Services said today that affirmed its 'BB' long-term foreign, 'BB+' long-term local, and 'B' short-term currency sovereign credit ratings on the Republic of Costa Rica. The outlook on the long-term ratings is stable. "The ratings on Costa Rica reflect impressive GDP growth and improved fiscal performance in recent years," said Standard&Poor's credit analyst Joydeep Mukherji. "Growth could reach 7% in 2006, helping to stabilize the general government debt burden at around 40% of GDP, he added. Mr. Mukherji explained that the general government deficit (including central bank losses) is likely to be around 2% of GDP or less in 2006 and 2007, while the Administration of President
