(NEW YORK) — Standard & Poor’s has slightly upgraded its credit rating for the United States. This is the same rating agency that stripped the U.S. of its AAA rating in August 2011.
The agency says the long-term rating outlook on the U.S. has been revised from negative to stable – meaning that the chance of a further downgrade of the credit rating has diminished somewhat.
The agency cites better cooperation between the two political parties and smaller than expected deficits among the reasons for the improved outlook.
The U.S. lost its AAA rating amid the fight over the debt ceiling in the summer of 2011.
In Monday’s statement, S&P says that it again expects “divisive debate” over the debt ceiling but expects the issue to be resolved without the U.S. defaulting on its debt obligations.
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Madison Park, Keith Allen and Andreas Preuss, CNN