LONDON (Standard&Poor's) March 1, 2002--Standard&Poor's said today it affirmed its triple-'A'/single-'A-1'-plus senior unsecured debt rating on the Republic of Austria's (AAA/Stable/A-1+) euro medium-term note program, which has been raised by €10 billion. This action reflects the Republic's strong credit standing. The total volume of the program is now €15 billion. "Austria has made significant progress in consolidating its public finances. As recently as 1999, it had the highest general government deficit in the EU, at 2.3% of GDP. As a result of coordinated efforts at all levels of government, the budget ended near balance in 2001," said Standard&Poor's credit analyst Moritz Kraemer. Austria exceeded its fiscal targets in both 2000 and 2001. Standard&
