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What they said

August 9, 2011

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The three main credit rating agencies offer their views on the US debt deal between President Obama and Congress.

Standard & Poor’s The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.

Moody’s In confirming the Aaa rating, Moody’s recognized that the agreement is a first step toward achieving the long-term fiscal consolidation needed to maintain the US government debt metrics within Aaa parameters over the long run.

Fitch RatingsThe increase in the debt ceiling and agreement on the broad parameters of a deficit-reduction plan support Fitch’s judgment that, despite the intensity and theatre of political discourse in the United States, there is the political will and capacity to ultimately do the right thing.