Right now, the U.S. still has a credit rating of Aaa. This is the highest sovereign credit rating offered by the company Moody's. However, there is a clear warning being issued that the U.S. (along with Britain) may soon test this rating.
In order to better categorize countries with a rating of Aaa, Moody's divides them thus, reports MarketWatch:
Cailleteau divided the Aaa countries into three categories -- resistant, resilient and vulnerable.
The United States and Great Britain both fall in the "resilient" category, the report said.
"These countries are rated Aaa more because of their balance sheet
flexibility than because of their current or projected debt levels over
the next few years," Cailleteau wrote. ...
"Resistant" countries, such as Canada, Germany and France, were
weakened by the crisis but started from strong fiscal positions. They
don't face a lasting challenge to their economic model or a "massive
risk of crystallization of contingent liabilities," the report said.
Clearly, the U.S. is not in the strongest position. However, it is not reached the "vulnerable" stage, and that is somewhat encouraging. However, in order for the U.S. to maintain, it needs to slow its use of debt, and take steps to reduce the deficit.
The news hasn't been horrible for the U.S. dollar, however. It is gaining against the euro and the sterling right now, although the credit rating warning is sending the greenback lower against the yen.
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