Posted by: youngragingbull | June 10, 2013

S&P ups U.S. outlook to stable from negative

Standard & Poor’s revised its long-term outlook on its U.S. credit rating to stable from negative, the ratings agency said Monday.

S&P downgraded the sovereign rating to AA+ from its top rating of AAA in 2011.

The rating agency cited economic strength and the dollar’s status as a reserve currency as the primary drivers of the outlook revision. S&P said the country has less than a one-in-three chance of another downgrade in the near-term.

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