WASHINGTON (AP) — The rating agency that downgraded the U.S. government’s long-term credit rating last year has reiterated its assessment and its negative outlook. It says U.S. political leaders aren’t addressing the federal debt burden.
Standard & Poor’s said Friday that it’s keeping its rating of U.S. long-term debt at “AA+.” It cut the rating in August after a battle in Congress over whether to raise the nation’s borrowing limit. Previously, the U.S. government had always received a “AAA” rating, reserved for the most credit-worthy borrowers.
At the time, S&P said it lowered the credit rating in part because it had lost some confidence in the U.S. political system. On Friday, it made clear that hasn’t changed.
Photo credit: CBS
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