Fitch keeps rating
Source: Agencies |
August 17, 2011, Wednesday
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Print Edition
Print Edition
Fitch Ratings yesterday said it will keep its rating on United States debt at the highest grade, AAA, and issued a "stable" outlook, meaning it expects the rating to stay there.
That's better than the other two main ratings agencies: Moody's lists the US debt at AAA but says its outlook is negative. And Standard & Poor's set off a maelstrom in the stock market last week after it took its rating on the US down to the second-highest grade, AA+, for the first time.
The S&P cited bickering in Congress over the debt ceiling earlier this summer, as well as the country's rising proportion of debt, for its downgrade.
But Fitch said it decided to keep its rating because the "key pillars" of US creditworthiness remain intact, including its "flexible, diversified and wealthy economy."
That's better than the other two main ratings agencies: Moody's lists the US debt at AAA but says its outlook is negative. And Standard & Poor's set off a maelstrom in the stock market last week after it took its rating on the US down to the second-highest grade, AA+, for the first time.
The S&P cited bickering in Congress over the debt ceiling earlier this summer, as well as the country's rising proportion of debt, for its downgrade.
But Fitch said it decided to keep its rating because the "key pillars" of US creditworthiness remain intact, including its "flexible, diversified and wealthy economy."
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