Fitch Ratings on Tuesday, citing the “exceptional creditworthiness” of the U.S., reaffirmed its highest AAA credit rating for U.S. debt.
Fitch, one of the ‘big three’ ratings firms along with Standard & Poor’s and Moody’s Investor Service, said the U.S. would maintain its coveted AAA rating because of the ability of its broad and diverse economy to withstand economic shocks.
“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, Fitch said in a statement.
“Monetary and exchange rate flexibility further enhances the capacity of the economy to absorb and adjust to ‘shocks’.”
The announcement seemed to have little impact on the stock markets. The Dow Jones Industrial Average was down about 75 points in morning trading. That may have been because Fitch warned that its outlook could change if the U.S. economy continues to falter and politicians continue to dither over U.S. debt problems.
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3 Responses
A pity. The last time someone downgraded the US credit rating, the value of the dollar started rising because investors decided to shift their money to something safe and secure: Treasury bonds. It would help the US if the dollar was a bit stronger.
Of course, whereas the S&P “downgrade” was somewhat funny, if someone else does it, it would just be a stale joke.
and how much did obama bribe Fitch to say that?
So…..is it safe to assume there is a AAAA and a AAAAA and a AAAAAA and on up rating? America’s credit worthiness can be no higher? Tell that to all those robbed of their pensions! Corruption and falsehood is all around.