S&P boosts outlook for US gov't debt - WRCBtv.com | Chattanooga News, Weather & Sports

S&P boosts outlook for US gov't debt

Posted: Updated:

NEW YORK (AP) - 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.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Can't find what you're looking for?

WRCB-TV
900 Whitehall Road
Chattanooga, TN 37405
(423) 267-5412

WRCB Jobs EEO | FCC Public Files

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WRCB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.