Fitch says U.S. rating still unlikely to change until 2013

By John Detrixhe
Bloomberg News

NEW YORK - Fitch Ratings said its negative outlook on the U.S.’s AAA credit ranking is still unlikely to change before late 2013 as it waits to assess any deficit- reduction plans following this year’s elections.

Brian Bertsch, a Fitch spokesman in New York, said in an e- mail today to Bloomberg News, that anyone who has questions about the status of the rating should review the statement put out by the company in July.

While the U.S.’s top grade is “underpinned” by factors including the nation’s diversified and productive economy and financial flexibility from the dollar’s status as the reserve currency, the outlook “reflects the risks associated with the lack of broad public and political agreement on how to secure deficit reduction,” Fitch said July 10 in a statement.