S&P revises outlook on US credit rating to 'stable' from 'negative'
NEW YORK -- Standard & Poor's Ratings Services is boosting its outlook for U.S. government debt, citing stable government spending levels and predicting economic improvements.
The credit rating service revised its outlook to "Stable" from "Negative," which means it's less likely it will downgrade the country's debt in the near future.
It also backed the U.S. government's "AA+" long-term and "A-1+" short-term unsolicited sovereign credit ratings.
S&P downgraded the U.S. government's long-term credit rating in 2011 after a battle in Congress over whether to raise America's borrowing limit.
The ratings service said Monday that Congress managed to broker a deal late last year that allowed certain tax cuts to expire and cut spending. Meanwhile, S&P says the economy has started to improve and is expected to continue to do so.
- Woman dies in NE Fresno officer-involved shooting 31 min ago
- Parlier man shot and killed; neighbor arrested
- China-bound Malaysian jet vanishes with 239 aboard 59 min ago
- Crews battle large fire at Fresno County warehouse
- Man dies after being hit by train in Downtown Fresno
- Report: Ukraine base in Crimea under siege
- Man who inspired Three Strikes law may be sentenced under it
- Fresno PD: Man sitting in street struck, killed by car
- Unemployment figures: Slight economic improvement
- California jury deadlocks in ex-NFL player's death
- Near drownings on the rise
- Students take part in robot competition in Madera 6 min ago
- SubCom companies thinking inside the box
- CIF Central Section Basketball Finals
Most Viewed StoriesMost Viewed Photos