LONDON (Standard&Poor's) Oct. 31, 2003--Standard&Poor's Ratings Services said today it assigned its 'AAA' foreign currency senior unsecured debt rating to the Republic of Austria's (AAA/Stable/A-1+) upcoming ¥15 billion Samurai bond maturing on Sept. 26, 2033. "The ratings on Austria are supported by its modern, highly diversified, competitive, and export-oriented economy," said Standard&Poor's credit analyst Kai Stukenbrock. "Austria continues to pursue a policy of fiscal austerity, including efforts to reduce the size of the state, to guarantee the long-term sustainability of government finances, and to further reduce the debt burden," he added. Austria's economy is characterized by high living standards, based on a high level of productivity and the innovative capacity of its corporate sector.
