Post by Vene on Aug 18, 2011 16:11:15 GMT -5
Fitch affirms U.S. AAA rating, disagrees with S&P[/b][/size]
Add in that S&P's original downgrade came with a $2 trillion accounting error (which lead to a rational change in which they blamed the teabaggers), we still have AAA status. The downgrade was bullshit and even other credit agencies think so.
Fitch also kept a stable outlook on its U.S. AAA rating, less than two weeks after S&P downgraded the United States to AA-plus with a negative outlook.
The agency said, however, that it will revisit its decision at the end of the year. It threatened to slap a negative outlook on the rating at that time if lawmakers fail to implement the $2.1 trillion in savings that were agreed earlier this month or if the economy deteriorates significantly.
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Fitch also said the U.S. AAA rating is underpinned by key pillars: the country's pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides the country's revenue base.
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After Fitch's rather positive view on the United States, Standard & Poor's stands more lonely than ever in its decision to downgrade the country.
Moody's Investors Service stands in the middle. The agency confirmed the U.S. AAA rating earlier this month with a negative outlook, threatening to downgrade it in the next two years for the same reasons Fitch raised -- if Congress doesn't fully implement the agreed $2.1 trillion in savings or if the economy falls into recession.
Add in that S&P's original downgrade came with a $2 trillion accounting error (which lead to a rational change in which they blamed the teabaggers), we still have AAA status. The downgrade was bullshit and even other credit agencies think so.
