LONDON (Standard&Poor's) Feb. 28, 2002--Standard&Poor's today said it affirmed its ratings on the Republic of South Africa, including its triple-'B'-minus/'A-3' foreign currency sovereign credit rating, to reflect the country's growing record of prudent economic management, improvements in public finances, and a gradual strengthening of the external financial position. The outlook is stable. "The triple-'B'-minus rating balances the macroeconomic achievements of recent years with the severe socioeconomic challenges facing South Africa and the slow progress in structural reforms, notably privatization," said Standard&Poor's credit analyst Konrad Reuss. "Going forward, an acceleration of structural reforms will be critical. This, together with the government's prudent pro-growth fiscal stance, should eventually boost growth and investment." After several years of
