America

Fitch Ratings Affirms United States' AAA Rating

Fitch Ratings, one of the big three ratings agencies, announced today that it was keeping a AAA rating for the United States.

The agency said in a press release that the affirmation "reflects the fact that the key pillars of US's exceptional creditworthiness remains intact." The agency added:

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'.

Fitch also said the outlook for the rating was "stable." The news comes more than a week after world's largest economy was downgraded by Standard & Poor's.

Reuters reports that U.S. Treasuries pared some gains following the news.

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