U.S. credit rating

NEW YORK, Feb. 4 (UPI) -- A leading credit rating service warned the United States' stellar ratings could take a hit because of the U.S. budget deficit and slow pace of economic recovery.

Moody's Investors Service issued its determination Wednesday, two days after the Obama administration said the deficit in fiscal 2010 would be about $1.6 trillion and about $1.3 trillion in 2011. The 2011 estimates work off the assumption of a relatively strong bounce for the U.S. economy.

Moody's said added steps were needed to reduce the deficit or the federal government's AAA bond rating could be affected. The company projected the debt-to gross domestic product ratio would be more than 100 percent in 10 years. Government estimates set that figure at 77 percent.