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Jul 19, 2013, 08.20 AM IST | Source: Reuters

Moody's raises US sovereign outlook to stable from negative

Moody's raised the US sovereign outlook to stable from negative, noting that the federal government's debt trajectory is on track with criteria previously laid out by the rating agency.

Moody's raises US sovereign outlook to stable from negative

Moody's Investors Service on Thursday stood down from the possibility of cutting the US sovereign credit rating in coming months, affirming the country's top Aaa rating and noting the resilience of the economy.

Moody's raised the US sovereign outlook to stable from negative, noting that the federal government's debt trajectory is on track with criteria previously laid out by the rating agency.

Also read: Bernanke's statement cautious, but not different: JPMorgan

The economy is growing moderately, but it is still "progressing at a faster rate compared with several Aaa peers and has demonstrated a degree of resilience to major reductions in the growth of government spending," Moody's said in a statement.

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