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Standard and Poor's raise U.S. credit outlook

  • Rating agency Standard and Poor's raised its credit outlook for the United States’ economy from negative to stable on Monday.

    In a report, the agency said that the strengths of the U.S. include "its resilient economy, its monetary credibility, and the U.S. dollar's status as the world's key reserve currency". Its weaknesses were "its fiscal performance, its debt burden, and the effectiveness of its fiscal policymaking".

    It added that further downgrades are unlikely as the economy continues to recover.

    The change in the outlook saw the US dollar strengthen against a basket of currencies, including 1.3 percent against the Japanese yen and 0.2 percent against the euro.

    In August 2011, S&P downgraded the rating one notch from AAA to AA+.