Most Active Stories
- Crashed Air Force drone was flying with gear that couldn't handle cold
- Empire Brewing Company says new brewery will create distinctive craft beers
- Schumer hopes federal funds will help local brewpub expand
- Teachers union not ready to reverse no confidence vote in education commissioner
- Small group protests possibility of housing Central American immigrants in Syraucse
Fitch Ratings Affirms United States' AAA Rating
Fitch Ratings, one of the big three ratings agencies, announced today that it was keeping a AAA rating for the United States.
The agency said in a press release that the affirmation "reflects the fact that the key pillars of US's exceptional creditworthiness remains intact." The agency added:
Its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base. Monetary and exchange rate flexibility further enhances the capacity of the economy to absorb and adjust to 'shocks'.
Fitch also said the outlook for the rating was "stable." The news comes more than a week after world's largest economy was downgraded by Standard & Poor's.
Reuters reports that U.S. Treasuries pared some gains following the news.