U.S. Top AAA Rating Affirmed by Fitch on Financial Flexibility
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The U.S. AAA credit rating was affirmed by Fitch Ratings Inc., which cited the strength of the nation’s economy, capital markets and status as the issuer of the world’s reserve currency.
The U.S. budget deficit, which has narrowed from a peak of $1.4 trillion in 2009 to $483.3 billion in 2014, is expected to continue to shrink in 2015 and 2016, though reforms to mandatory spending and taxation measures will be needed to prevent increases after 2018, analysts Charles Seville and Ed Parker wrote in a report released Monday. Fitch said the outlook for the rating is stable.