Daily News: June 11, 2013

S&P Revises U.S. Outlook to Stable

Standard & Poor’s said that it has affirmed its AA+ long-term and A-1+ short-term ratings on the U.S. and has revised its outlook on the long-term rating to stable from negative.

S&P said that under its criteria, the credit strengths of the U.S. include its resilient economy, its monetary credibility and the U.S. dollar’s status as the world’s key reserve currency. S&P added that the U.S.’s credit weaknesses, compared with higher rated sovereigns, include its fiscal performance, its debt burden and the effectiveness of its fiscal policymaking.

S&P said it is revising the rating outlook to stable to indicate its current view that the likelihood of a near-term downgrade of the rating is less than one in three.

To read the full S&P report click here.