Economics

Standard and Poor's Raises Credit Outlook For US Economy

Moody's and Fitch not revising their ratings

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Rating agency Standard and Poor's has raised its credit outlook for the US economy from negative to stable.

In August 2011, S&P downgraded the US rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover.

The news saw the US dollar strengthen 1.3% against the Japanese yen, and 0.2% against the euro.

But S&P is still concerned about the high levels of US debt.