NEW YORK -- Standard&Poor's CreditWire 9/21/98 -- Standard&Poor's today has affirmed its double-'B' rating on the Republic of Argentina's US$66.9 billion of long-term senior unsecured foreign currency debt. Also, Standard&Poor's has affirmed its triple-'B'-minus rating on the Republic's US$8.2 billion of long-term senior unsecured peso-denominated debt together with its single-'B' and 'A-3' ratings on short-term dollar- and peso-denominated LETES, respectively, currently totaling US$3 billion. Additionally, Standard&Poor's affirmed its double-'B' long-term foreign currency and its triple-'B'-minus long-term local currency sovereign credit ratings on the Republic. The rating outlook is stable. The stable outlook reflects Standard&Poor's expectation that Argentina's comparatively solid fiscal and financial fundamentals, and manageable external liquidity position, will underpin
