Moody’s Affirms Its Aaa Rating for U.S. on Dollar’s Role, Political Debate

[There Is No Spoon]

Moody’s Investors Service affirmed the U.S.’s top rating for the second time in a week, rebutting Standard & Poor’s after it stripped the world’s largest economy of its top credit status.

The U.S. today retained its Aaa ranking with a negative outlook because the dollar’s status as the main reserve currency allows it to support higher debt levels than other countries and lawmakers last week took a “positive step” toward addressing the nation’s record deficits, Steven Hess, the senior credit officer at Moody’s in New York, said in a telephone interview.

“What we’ve said over the last few months is that we now see at least both parties having the same goal of deficit and debt reduction over the long term, even though more needs to be done,” Hess said. “More important to us than how contentious the process is, does it produce results? What we’re looking at is actual policies as opposed to the political debate.”

The dollar, the most widely held currency in central banks’ global foreign exchange reserves, helps support the U.S.’s top credit ranking, Moody’s said in a report today. The country also has an economy with “unparalleled size and diversity” as well as a government that’s characterized by “political and institutional stability.”

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http://www.bloomberg.com/news/2011-08-08...rency.html

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Looks like Moody's isn't playing the S&P game.

[Cha]

Dueling Investor Services! S&P says AA, Moody says AAA. We'll see who wins. Thanks TINS.

[There Is No Spoon]

(08-08-2011 02:38 PM)Cha Wrote:  Dueling Investor Services! S&P says AA, Moody says AAA. We'll see who wins. Thanks TINS.

Warren Buffet says AAAA! I like the way he thinks.

[Cha]

(08-08-2011 02:45 PM)There Is No Spoon Wrote:  

(08-08-2011 02:38 PM)Cha Wrote:  Dueling Investor Services! S&P says AA, Moody says AAA. We'll see who wins. Thanks TINS.

Warren Buffet says AAAA! I like the way he thinks.

You made me go to the link..

Quote: The Billionaire Warren Buffett, the world’s most successful investor, said S&P erred and the U.S. should be rated “quadruple-A.”

Yeah, I do like the way he thinks..he also doesn't mind paying his fair share of taxes.