LONDON (Standard&Poor's) April 18, 2002--Standard&Poor's today said it assigned its triple-'B'-minus senior unsecured debt rating to the Republic of South Africa's (local currency A-/Stable/A-2; foreign currency BBB-/Stable/A-3) new $1 billion global bond due 2012. The rating reflects South Africa's growing record of prudent economic management, improvements in its public finances, and a gradual strengthening of its external financial position. "The 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 progrowth fiscal stance, should eventually boost growth
