PARIS (Standard&Poor's) Feb. 19, 2009--Standard&Poor's Ratings Services said today that it has revised its outlook on the Republic of Botswana to negative from stable, on rapidly deteriorating public finances. At the same time, the 'A/A-1' foreign currency and 'A+/A-1' local currency sovereign credit ratings were affirmed. "The outlook revision reflects our view that economic policy challenges for Botswana are rising because of the severe contraction of the country's key commodity markets, which had spurred many years of strong economic growth, abundant fiscal revenues, and asset accumulation," said Standard&Poor's credit analyst Véronique Paillat-Chayrigues. In particular, the fall in diamond production and prices since November 2008 has significantly undermined Botswana's economic growth prospects, fiscal outturns, and
