Fitch Makes its Pitch: USA is AAA
Saying that the United States’ key pillars of creditworthiness are intact, Fitch Ratings today said it was keeping its AAA rating on U.S. credit.
In its announcement, the ratings company said those pillars include the country’s “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'.”
The country’s debt ratings have been the subject of concern since Standard & Poor’s downgraded its rating earlier this month on Treasury bonds, a downgrade that took some NCUA issues along with it.
Rating service Moody’s also kept the AAA rating but said it was concerned about the country’s financial health.