LONDON (Standard&Poor's) June 19, 2006--Standard&Poor's Ratings Services said today it affirmed its 'BBB+' long-term and 'A-2' short-term foreign currency, and its 'A+' long-term and 'A-1' short-term local currency sovereign credit ratings on the Republic of South Africa. The outlook is stable. At the same time, the 'zaAAA' long-term and 'zaA-1' short-term national scale ratings on South Africa were affirmed. "Despite turbulence in South African financial markets in recent weeks, the ratings on the sovereign remain supported by its prudent macroeconomic policies, a moderate debt burden, and strong and stable political institutions," said Standard&Poor's credit analyst Farouk Soussa. "These are balanced by relatively vulnerable external finances and severe structural socioeconomic weaknesses, including income disparities, poverty,
