Fitch Ratings maintained a United States debt rating (USA) at the highest level, i.e. ‘ AAA ‘ with ‘ negative ‘ outlook due to the failure of Congress and the Obama administration reached agreement on a reduction in budget deficits.
Fitch said the uncertainty would be federal tax and budget policy associated with the so-called ‘ fiscal cliff ‘ had been to overload the economic prospects in the near future and increase the likelihood of a recession again.
Fitch also said government debt burden on the economy will continue to rise and could hinder growth if the deficit is not deal related also achieved.
The U.S. preference ranking due to the country’s economy as well as Uncle Sam is very productive, diverse, and rich. Other positive thing is the flexibility of the exchange rate and monetary level, as well as the status of the dollar as the currency of deposits around the world. As for the risk of the financial system and the economic crisis of 2008 is still moderate and steadily decreasing.
These rating agencies not yet planning to fix outlook stating ‘ negative ‘ embedded to rank US until the end of 2013, assuming there would be no new economic shock.
In the study of economic prospects and updated budget, Fitch said it will take into account any strategy that would have taken the Government to trim after the elections later.
“The plan the deficit-reduction agreement multi-year that will stabilize Government debt and ensure the sustainability of public finances beliefs long-term rating of AAA who can assert the U.S.-owned and improved outlook to ‘ stable ‘,” explained Fitch.
Fitch lowered its rating outlook AS previously being ‘ negative ‘ from ‘ stable ‘ in November 2011. “The decline in belief that timely fiscal policy, which is necessary to put the US public finances towards sustainability, will be given,” explains Fitch.
Although projecting an increase in economic growth in the U.S., in recent months, a number of international rating agencies have threatened to downgrade their ratings if deficit reduction is also not workable.
In August 2011, Standard & poor’s (S & P) ranked the top trim the country’s debt letter (SUN) AS long term from ‘ AAA ‘ to ‘ AA + ‘ and became the first U.S. decline in ranking SUN in history.
In the same month, Moody’s Investors Service which commemorates U.S. at level AAA, also have lowered its outlook to ‘ negative ‘. Since then, based on an index of Bank of America Merrill Lynch U.S. SUN rose 6.8%.
At that time, the S & P made the debate surrounding the debt limit in the U.S. as one of several reasons for decline in ratings. According to the rating agencies, fiscal and political risk can be herded US towards a decrease in ratings again.