NY -- Standard&Poor's CreditWire 3/22/96 -- Standard&Poor's today has affirmed its double-`A'-plus foreign currency and triple-`A' local currency credit ratings for the Government of Canada, as well as its `A-1'-plus short-term rating. The outlook on the foreign currency credit rating remains negative, while the outlook on the local currency credit rating remains stable. The affirmations reflect continuing improvement in fiscal performance, and the steady reduction of the moderately high net external debt burden. The ratings also are based on Canada's: -- Diversified, export-oriented economy and wealth of resource endowments; -- Favorable competitive position; and -- Stable political system, even with the uncertainties posed by the sovereignty movement in Quebec. The negative outlook on the foreign currency
