NY -- Standard&Poor's CreditWire 2/28/96 -- Standard&Poor's affirms its double-`B' ratings on the United Mexican States long-term foreign currency obligations, including Brady bonds, and its triple-`B'-plus/`A-2' ratings on the UMS' long- and short-term peso-denominated obligations. Including sovereign-supported obligations, about $50.6 billion in debt is affected. The outlook remains negative. The ratings and outlook balance the success of Mexico's short-term stabilization program with the medium-term challenge of achieving sustainable growth and maintaining political support for orthodox economic policy. Underpinned by $27.8 billion in extraordinary official credit, adherence to the strict adjustment program has steadied the economy and transformed favorably the structure of public debt. However, the double-digit shrinkage of domestic demand and real wages in 1995, punishing
