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Financial News: S&P Maintains U.S. Sovereign Rating At 'AA+'

S&P Maintains U.S. Sovereign Rating At 'AA+'

06/27/2018 - 02:43:00 (RTTNews)

(RTTNews) - S&P Global Ratings affirmed its 'AA+' sovereign credit ratings on the United States of America, with 'stable' outlook.

S&P said the ratings were underpinned by the resilience and diversity of its economy, its institutional strengths, its extensive economic policy flexibility that includes a proactive monetary policy, and its unique status as the issuer of the world's leading reserve currency.

"In our view, disagreement across and within political parties has resulted in slower decision-making and has limited the government's ability to enact forward-looking legislation, particularly fiscal policy," S&P said in a statement.

These factors coupled with government's high level of debt were constraints on ratings. S&P observed that after this year's midterm elections and ahead of the 2020 elections, the fiscal legislative agenda will be limited.

The economy is forecast to expand 3 percent this year and 2.5 percent in 2019, before slowing toward its long-term potential of 1.8 percent.

At the same time, the stable outlook reflects the assessment that the U.S.'s negative and positive rating factors will be balanced over the next two years.

Despite heightened uncertainties and tensions with trading partners as the administration works toward fairer trade agreements, S&P assumed the general pattern of trade in goods and services will remain broadly unchanged.

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