Fitch confirmed on Tuesday its triple-A rating of the United States, 10 days after rival Standard & Poor's dealt the country its first-ever downgrade due to Washington's huge deficits and debt.
'The affirmation of the US 'AAA' sovereign rating reflects the fact that the key pillars of US's exceptional creditworthiness remain intact: its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base,' Fitch Ratings said.
'Monetary and exchange rate flexibility further enhances the capacity of the economy to absorb and adjust to 'shocks',' Fitch said.
Source : New Age
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