NY -- Standard&Poor's CreditWire 2/24/97 -- Standard&Poor's today has affirmed its double-`A'-plus long-term foreign currency credit rating for the Government of Canada and has revised its long-term foreign currency rating outlook to stable from negative. Standard&Poor's also has affirmed its triple-`A' long-term local currency credit rating for the Government of Canada, as well as its `A-1'- plus short-term ratings. The long-term local currency rating outlook remains stable. The change in the foreign currency rating outlook reflects the improvement in the government's fiscal and balance of payments flexibility as federal and provincial fiscal deficits continue to narrow and the high governmental debt and interest burdens begin to decline. The balance of payments is affected because
