Moody's revises U.S. sovereign outlook to stable from negative

NEW YORK, July 18 Thu Jul 18, 2013 4:30pm EDT

NEW YORK, July 18 (Reuters) - Moody's Investors Service on Thursday stood down from the possibility of cutting the U.S. sovereign credit rating in coming months, affirming the country's top Aaa rating and noting the resilience of the economy.

Moody's raised the U.S. sovereign outlook to stable from negative, noting that the federal government's debt trajectory is on track with criteria previously laid out by the rating agency.

The economy is growing moderately, but it is still "progressing at a faster rate compared with several Aaa peers and has demonstrated a degree of resilience to major reductions in the growth of government spending," Moody's said in a statement.

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