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Fitch affirms US AAA credit rating

07-12-2012 10:00 BJT

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In U.S., finally a spot of good news from a major credit rating agency. Fitch has affirmed its triple A credit rating on the U.S. and maintained a negative outlook. The agency says, its affirmation is underpinned by the country’s highly diversified and wealthy economy, as well as monetary and exchange rate flexibility.

It also notes the exceptional financing flexibility afforded by the global reserve currency status of the U.S. dollar. Fitch’s current assessment is that the weak recovery reflects the gradual rebalancing of the U.S. economy. It predicts the recovery to accelerate into 2013 and 2014.

Over the medium term, Fitch projects growth to expand at an annual rate of 2.5 percent. A negative outlook gives Fitch 12 to 18 months by which it is expected to make a decision on the U.S. credit rating. Additional risks to the outlook emanate from an uncertain U.S. fiscal policy as well as Europe’s debt crisis and recession.


Editor:Zhang Jingya |Source: CNTV.CN

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