LONDON (Standard&Poor's) Oct. 17, 2005--Standard&Poor's Ratings Services said today it affirmed its 'A' long-term and 'A-1' short-term foreign currency and its 'A+' long-term and 'A-1' short-term local currency sovereign credit ratings on the Republic of Botswana. The outlook is stable. "The ratings on Botswana reflect the sovereign's strong external net asset position, a well-managed minerals-based economy, and political and macroeconomic stability, offset by the narrow economic base and the challenges posed by the HIV/AIDS pandemic," said Standard&Poor's credit analyst Beatriz Merino. The public sector net external asset position, at about 100% of current account receipts in 2005, is among the highest recorded by any rated sovereign, bolstering the government's capacity to absorb potential shocks.
