LONDON (Standard&Poor's) June 3, 2003--Standard&Poor's Ratings Services said today it affirmed all its ratings on the Republic of Hungary, including its 'A-/A-2' foreign currency and 'A/A-1' local currency sovereign credit ratings. The affirmation reflects Hungary's continued commitment to structural reforms and market-oriented policies, its moderate public sector external debt burden, and solid external indicators. The outlook is stable. "The government's unwavering commitment to economic reforms has underpinned the development of a dynamic private sector and attracted significant foreign direct investment inflows over the past few years," said Standard&Poor's credit analyst Beatriz Merino. "This has led to a remarkable diversification of the economy and supported robust export growth." In parallel, the government's external debt profile
