NEW YORK (Standard&Poor's) Nov. 16, 2007--Standard&Poor's Ratings Services said today that it raised its long-term foreign currency sovereign credit rating on the Republic of Suriname to 'B+' from 'B'. At the same time, Standard&Poor's raised its long-term local currency rating on the republic to 'BB-' from 'B+'. The short-term sovereign credit ratings remain unchanged at 'B', and the outlooks on both the long-term foreign and local currency sovereign credit ratings are stable. According to Standard&Poor's credit analyst Olga Kalinina, the rating actions reflect Suriname's improving macroeconomic fundamentals, robust growth prospects, strengthened debt position, and, most importantly, efforts on the legislative and institutional fronts to preserve these accomplishments beyond economic and political cycles.
