Posted: Aug 2, 2011 5:26 PM
Source: Associated Press
WASHINGTON - Moody's Investors Service says the United States will retain its triple-A bond rating following passage of legislation to boost the debt ceiling. But the rating agency says it is lowering the outlook for possible future changes to negative.
Moody's says in a statement the bill signed into law by President Barack Obama on Tuesday had virtually eliminated the risk of a default by the government on its debts.
Moody's assigned a negative outlook to the triple-A rating to show that there is still be a risk of a downgrade if the government's fiscal discipline weakens.
Fellow ratings agency Fitch Ratings took similar action earlier in the day.