Take That, S&P: Fitch Reaffirms AAA-Rating

More

It'd be nice to have consensus among all three major credit rating agencies on the invincibility of U.S. debt. But two out of three ain't bad:

Today, Fitch Ratings affirmed the nation's AAA rating saying the country's fiscal outlook is stable. "The affirmation of the US 'AAA' sovereign rating reflects the fact that the key pillars of US's exceptional creditworthiness remains intact: its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base," the agency said in its statement.

Fitch now joins Moody's in affirming the country's AAA status while S&P maintains its AA+ assessment. In its statement, the agency added that "monetary and exchange rate flexibility further enhances the capacity of the economy to absorb and adjust to 'shocks'." In morning market trading, "Wall Street was under pressure on Tuesday amid concerns over the pace of the global economic recovery, but Fitch's affirmation of America's top-notch credit rating helped temper the losses," reports Fox Business. Of the "big three" ratings agencies, Fitch is the smallest after Standard & Poor's and Moody's, and the market is not giving its rating much notice. The Dow Jones Index is currently down 93 points.

Read the full story at The Atlantic Wire.


Jump to comments
Presented by

The Atlantic Wire is your authoritative guide to the news and ideas that matter most right now.

Get Today's Top Stories in Your Inbox (preview)

A Technicolor Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

A Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier

Video

What Do You Wish You Learned in College?

Ivy League academics reveal their undergrad regrets

Video

Famous Movies, Reimagined

From Apocalypse Now to The Lord of the Rings, this clever video puts a new spin on Hollywood's greatest hits.

Video

What Is a City?

Cities are like nothing else on Earth.

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Writers

Up
Down

More in Business

Just In