Tuesday, August 16, 2011

Fitch Ratings Affirms USA at AAA, Outlook Stable (Video) *Some credit rating agencies rate USA lower*

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Fitch reaffirmed the USA sovereign debt credit rating at AAA, outlook stable


Some USA Sovereign Credit Ratings at a Glance
Moody's Investor Service: AAA
Fitch Ratings: AAA
Standard & Poor's: AA+
Egan-Jones: AA+
Dagong Global Credit: A+
Weiss Ratings: C- equivalent to BBB-

USA Sovereign Credit Rating Overview (Major Credit Rating Agencies) Fitch Ratings affirmed USA at AAA, with a stable outlook, on August 16, 2011. Standard and Poor's lowered the credit rating of the United States of America from AAA to AA+, with a long-term negative outlook, on August 5, 2011. The negative outlook indicates the rating could be lowered again within the next two years. Moody's Investor Service affirmed the USA at AAA, but with a negative outlook, on August 2, 2011.

Fitch Affirms United States at AAA; Outlook Stable (August 16, 2011) "The affirmation of the US 'AAA' sovereign rating reflects the fact that the key pillars of US's exceptional creditworthiness remains intact: its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base. Monetary and exchange rate flexibility further enhances the capacity of the economy to absorb and adjust to 'shocks'."

USA Sovereign Credit Rating Overview (Other Credit Rating Agencies) Dagong Global Credit of China initiated coverage of sovereign credit in July 2010 and the rating of the United States of America was AA. Dagong downgraded the USA to A+/negative in November 9, 2010 then reiterated the USA negative outlook on July 14, 2011, which was repeated on August 2, 2011. Weiss Ratings of the USA is the toughest, initiating coverage of the USA on April 28, 2011 with a credit rating of C (Fair), which is equivalent to BBB used by the major credit rating agencies The USA was then downgraded further to C- on July 15, 2011, which is equivalent to BBB-. Weiss Ratings challenged the three major credit rating agencies, Standard and Poor's, Fitch Ratings, and Moody's Investor Service, on May 10, 2010 "to downgrade the long-term debt of the United States before it's too late" to AA+. The challenge was reissued on August 8, 2011 to Fitch and Moody's. Egan-Jones of the United States downgraded the United States from AAA to AA+ on July 18, 2011. See earlier post regarding these other credit rating agencies, S&P Was Not First Rating Agency to Downgrade USA (Video) *China's Dagong Global Credit never rated America at AAA*.

U.S. Market Outlook, Fitch's AAA U.S. Credit Rating Aug. 16 (Bloomberg) -- Scott Wren, senior equity strategist at Wells Fargo Advisors LLC, talks about the outlook for the U.S. stock market. Wren, speaking with Lisa Murphy on Bloomberg Television's "In the Loop," also discusses Fitch Ratings's affirmation of its AAA credit rating for the U.S. (Source: Bloomberg) Commentary begins at 1:50




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