June 19, 2020 / 9:00 PM / 23 days ago

BRIEF-Moody's affirms United States' Aaa rating; maintains stable outlook

June 19 (Reuters) - Moody’s Investors Service:

* MOODY’S AFFIRMS UNITED STATES’ AAA RATING; MAINTAINS STABLE OUTLOOK

* MOODY’S SAYS AFFIRMED GOVERNMENT OF UNITED STATES OF AMERICA’S AAA LONG-TERM ISSUER AND SENIOR UNSECURED RATINGS

* MOODY’S SAYS AFFIRMATION OF RATING IS UNDERPINNED BY U.S.’ EXCEPTIONAL ECONOMIC STRENGTH, HIGH INSTITUTIONAL AND GOVERNANCE STRENGTH

* MOODY’S, ON CORONAVIRUS IMPACT, SAYS EXPECTS U.S. ECONOMY TO RECOVER OVER TIME, SOVEREIGN’S CREDIT PROFILE TO REMAIN RESILIENT TO SHOCK

* MOODY’S, ON U.S., SAYS OVER THE LONGER TERM EXPECTS DEFICITS TO NARROW TO AROUND 7% OF GDP BY 2030.

* MOODY’S SAYS CORONAVIRUS PANDEMIC CREATED UNPRECEDENTED CHALLENGES FOR U.S. ECONOMY, EXACERBATED PACE OF DETERIORATION OF GOVERNMENT’S FISCAL POSITION

* MOODY’S SAYS U.S.’ FISCAL STRENGTH IS DETERIORATING AND THAT DETERIORATION IS EXPECTED TO ACCELERATE OVER TIME

* MOODY’S ON U.S. SAYS SHORT-TERM COUNTRY CEILINGS FOR FOREIGN-CURRENCY BONDS & BANK DEPOSITS REMAIN UNCHANGED AT PRIME-1

* MOODY’S SAYS EXPECTS U.S. TO GROW AT FASTER PACE THAN MANY HIGH-INCOME ECONOMIES OVER MEDIUM TERM, AFTER SHOCK FROM COVID-19 PANDEMIC PASSES

* MOODY’S SAYS OVER THE LONGER TERM, DESPITE LOWER INTEREST RATES, EXPECTS U.S. DEBT AFFORDABILITY TO DETERIORATE

* MOODY’S SAYS U.S. WILL NOT REMAIN IMMUNE TO DOWNWARD RATING PRESSURES IN COMING YEARS IN ABSENCE OF FISCAL POLICY SHIFTS TO REDUCE DEFICIT, STABILIZE DEBT BURDEN

* MOODY’S SAYS THERE IS NO NEAR-TERM PROSPECT OF THE BENCHMARK STATUS OF U.S. DOLLAR AND U.S. TREASURY MARKET BEING UNDERMINED

* MOODY'S SAYS OVER LONGER TERM, EXPECTS U.S. FEDERAL GOVERNMENT DEFICIT TO NARROW TO AROUND 7% OF GDP BY 2030 Source text: bit.ly/2Ne76Qs

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