April 22 (FAP)-Standard & Poor's raised its outlook for Britain's credit rating from negative to stable on the 21st, confirming its "AA/A-1+" long-term and short-term sovereign credit ratings. At the same time, it adjusted the outlook for the Bank of England's AA long-term foreign exchange and local currency ratings from negative to stable. S & P said the adjustment reflected the UK's recent stronger economic performance and more control of the budget deficit over the next two years. The UK economy is expected to contract moderately this year, but downside risks have been reduced in the near term.