News / Economy

Fitch Affirms US Rating

FILE - People pass the statue of the bull near Wall Street in New York.
FILE - People pass the statue of the bull near Wall Street in New York.
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The Fitch credit rating agency has issued a AAA rating with a stable outlook for the United States.

Fitch made the announcement Friday, saying the new action resolved the negative watch the U.S. received in October.

The agency noted that last year's U.S. debt ceiling crises had not negatively affected U.S. bond yields or reduced foreign holdings of Treasury securities.

"Fitch does not believe the role of the U.S. dollar, sovereign financing flexibility or debt tolerance has been materially damaged," the report read. The ratings agency said the U.S. has achieved "strong fiscal consolidation."

The agency said the U.S. economy is one of the most "productive, dynamic and technologically advanced in the world," underpinned by strong institutions, a favorable business climate and efficient product and labor markets.

Fitch said the U.S. has greater debt tolerance that its AAA peers, owing to the "unparalleled financing flexibility provided by being the issuer of the world's pre-eminent reserve currency and benchmark fixed income asset."

Fitch said the country's capital markets are "the deepest and most liquid in the world."

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