US deal secures AAA-rating from agencies

Leading ratings agencies have re-affirmed the US' AAA-rating following the last gasp deal to approve an increase in its debt ceiling.

President Obama signed off the historic deal last night in the Senate following a vote from the House of Representatives a day earlier, in a move which will see the country's limit on borrowing climb by as much as $2.4trn. The deal prompted Moody's Investor Services and Fitch Ratings to maintain their AAA-ratings for now, although fears remain the US could still be downgraded if it does not tackle its budget deficit. Moody's also assigned the rating a negative outlook, meaning there is a chance of a downgrade in the next 12-18 months. Fitch added it wants to conduct a more thorough...