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Clean bill of health for Balearic economy

International risk financial assessment agency Standard and Poor's yesterday improved the Balearics' long term rating from AA to AA+ because of the region's “stable” economic outlook. In an official communique, Standard and Poor's stated that the local economy is strong and that medium term growth prospects are good, despite the 2002 and 2003 slow down which reflects the general economic slowdown and decreasing tourism flows.

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