Daily News: March 24, 2014

Bloomberg: U.S. Keeps AAA, Outlook Raised to Stable

Bloomberg reported that Fitch Ratings increased its outlook on the U.S.’s AAA credit-ranking to stable from negative, joining Moody’s Investors Service and even S&P in assigning stable outlooks on the world’s largest economy.

Bloomberg said the dire economic and political landscape cited by Standard & Poor’s when it downgraded the U.S.’s AAA credit rating in 2011 is proving to be unfounded.

Bloomberg noted that S&P’s dropping of the U.S.’s rating to AA+ contributed to an equity rout that erased about $6.1 trillion from global stocks. Tax revenue needed to pay the government’s bills is forecast to grow this year more than three times as fast as spending, Bloomberg said.

To read the entire Bloomberg report, click here.