S&P boosts outlook for US gov't debt
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.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Roundabouts planned throughout Livingston Parish
Criminal justice bills derailed by Louisiana budget feud
EXCLUSIVE: Mayor speaks out after call for firing of BRPD officer
Wisconsin woman jumps on hood of her SUV to prevent theft
RAW: Video shows Southern's Devon Gales walking with robotic exoskeleton