Fitch Reaffirms AAA Rating

Also says outlook on US ratings is stable
By Newser Editors and Wire Services
Posted Aug 16, 2011 9:01 AM CDT
Fitch Reaffirms AAA Rating
Building at One State Street in the Financial District where the rating agency Fitch Ratings is located August 8, 2011 in New York.   (Getty Images)

Take that, Standard & Poor's: Fitch Ratings says it will keep its rating on US debt at the highest grade, AAA, and says its outlook on the US ratings is stable. Fitch cited the United States' "flexible, diversified, and wealthy economy," as well as its flexibility in monetary and exchange rates that allows it to adjust to marketplace shocks. Standard & Poor's set off a tempest with its downgrade last week; the third main ratings agency, Moody's, still rates the US debt at its highest grade but says its outlook is negative. (More Fitch Ratings stories.)

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