facebook
twitter
rss
account
search
search
 

Moody's upgrades U.S. Aaa credit rating to stable

July 19, 2013 at 1:18 PM   |   Comments

NEW YORK, July 19 (UPI) -- Moody's Investors Service said the U.S. credit rating had firmed up, allowing it to move its Aaa bond rating status from negative to stable.

The move "reflects Moody's assessment that the federal government debt trajectory is on track to meet the criteria laid out in August 2011 for a return to a stable outlook," the rating service said.

The U.S. budget deficit was expected to decline over the next few years, Moody's said.

"Furthermore, the growth of the U.S. economy, which, while moderate, is currently progressing at a faster rate compared with several Aaa peers and has demonstrated a degree of resilience to major reductions in the growth of government spending," Moody's said in a statement released Thursday.

Moody's warned "without further fiscal consolidation efforts, government deficits are anticipated to increase once again over the long term."

"If left unaddressed, over time this situation could put the rating again under pressure," Moody's said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
2
Corona Extra recalled due to glass particles in beer
3
Embraer refining KC-390 transport
4
Navy to test Lockheed Martin's FORTIS exoskeleton
5
Final builder sea trials for Australian landing helicopter dock ship
Trending News
Video
x
Feedback