Outlook for U.S. debt boosted by S&P - WREX.com – Rockford’s News Leader

Outlook for U.S. debt boosted by S&P

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NEW YORK, NY (WREX) -

Standard & Poor's Ratings Services cited stable spending levels and predicted economic improvements when it boosted the outlook for the country's debt this week.

S&P changed the outlook from "negative" to "stable" and stood behind the government's "AA+" long-term and "A-1+" short-term unsolicited sovereign credit ratings. The long-term rating was downgraded by S&P in 2011 after a Congressional battle over whether or not to raise the country's borrowing limit.

The service explained Monday that Congress made a deal in late 2012 allowing certain tax cuts to expire and cutting spending. Meanwhile, S&P says the economy is improving and is expected to continue doing so.

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