NEW YORK (Standard&Poor's CreditWire) March 1, 2000-- Standard&Poor's today affirmed its double-'A'-plus foreign and triple-'A' local long-term currency issuer credit and senior unsecured ratings on Canada. Standard&Poor's also affirmed the country's single-'A'-plus local and foreign short-term currency issuer and senior unsecured ratings and commercial paper rating. The outlook remains stable. The affirmations follow the Feb. 28, 2000, tabling of the federal budget, in which the government announced plans to cut taxes moderately over the next five years while maintaining fiscal prudence. An impressive deficit reduction record in recent years, a strong commitment to continued fiscal consolidation, and fairly conservative economic assumptions raise the prospect of future fiscal surpluses. This should facilitate a gradual reduction
