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Business

Ratings agencies not really worried about Trump

Leading ratings agencies have appeared to be rather unfazed by Donald Trump's election victory. Standard & Poor's, for instance, left its US creditworthiness assessment unchanged despite a lot of imponderables.

Ratings agency Standard & Poor's on Thursday reaffirmed its assessment of the United States' credit worthiness in the wake of Donald Trump's victory in the presidential election. It left its rating untouched at AA+, the agency's second-best ranking.

S&P's US outlook was still "stable," the agency said in New York, adding that it did not expect any change in its assessment in the immediate future.

Standard $ Poor's noted the US kept having a diversified and resilient economy, with the dollar remaining the world's most important reserve currency.

Long-term prospects

Nevertheless, all big ratings agencies indicated they were aware of Trump's political inexperience and the uncertainty it created.

On Wednesday, the Fitch ratings agency warned of negative consequences of Trump's proposed economic policies. It said its credit rating could be negatively affected in the middle and long term, if his proposals were fully implemented.

Many details of Trump's future economic policy are still unclear. But he pledged to significantly lower taxes, which economists warned would inflate the country's debt burden.

Fitch also said that protectionist policies would harm the US economy in the final analysis. For the time being, though, the ratings agency maintained its triple-A ranking for the world's largest economy.

hg/sri (dpa,Reuters)

 

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