Monday, August 11, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

World’s shrinking AAA debt options include Singapore, Norway

Simon Osuji by Simon Osuji
August 2, 2023
in Finance
0
World’s shrinking AAA debt options include Singapore, Norway
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The fallout from Fitch Ratings’ downgrade of the US puts the focus on the countries still holding onto the coveted top credit grade.

Economies with the highest credit rating at S&P Global Ratings, Fitch and Moody’s Investors Service include Germany, Denmark, Netherlands, Sweden, Norway, Switzerland, Luxembourg, Singapore and Australia. Canada is rated AAA by two of the ratings companies.

Fitch’s downgrade of the US sovereign follows the cut by S&P in 2011, leaving Moody’s as the only major rating company keeping its top-tier grade for the world’s largest economy. Fitch said the cut reflects expected fiscal deterioration and a growing government debt burden after repeated debt-limit standoffs.

So far, concerns that the ratings agencies may shift their gaze to the remaining bloc are premature, according to Berenberg Capital Markets.

“Every country is different, has its own growth pattern — its own tax and spending structures so it doesn’t suggest any contagion to other countries,” senior economist Mickey Levy said on Bloomberg Television. “No country that has the strength of the US has been affected by this.”

For Kevin Muir, a former trader who now writes the MacroTourist newsletter, US securities are over-owned in the global financial community and the downgrade could lead to a re-weighting among some investors toward the assets of other countries. But for other market participants, it won’t change their view about the US.

“Is Canada really a better credit than the United States? Or Luxembourg?,” Muir wrote. “The US is the world’s dominant power, and sure they have done some ill-advised things like wave a gun around threatening to shoot their own financial system with a default, but we all know they will eventually pay their bills.”

© 2023 Bloomberg



Source link

Related posts

Senator Ted Cruz driving U.S. energy influence in Africa

Senator Ted Cruz driving U.S. energy influence in Africa

August 8, 2025
MWC Kigali Returns in October with Focus on Digital Policy and Regional Collaboration

MWC Kigali Returns in October with Focus on Digital Policy and Regional Collaboration

August 7, 2025
Previous Post

Zimbabwe Issues Gold-Backed Digital Tokens Amid Plummeting Currency Value

Next Post

Coinbase ‘Explores’ Effective Integration of Bitcoin Lightning Network

Next Post
Coinbase ‘Explores’ Effective Integration of Bitcoin Lightning Network

Coinbase 'Explores' Effective Integration of Bitcoin Lightning Network

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Jeff Bezos, Lauren Sanchez Make NYFW Debut Via Helicopter

Jeff Bezos, Lauren Sanchez Make NYFW Debut Via Helicopter

2 years ago
Kuwait plans more power plants to meet soaring demand

Kuwait plans more power plants to meet soaring demand

6 months ago
Ensuring colony counts remain precise and verifiable using a completely automated colony counting system

Ensuring colony counts remain precise and verifiable using a completely automated colony counting system

2 years ago
Lebanon Official Media Report Israeli Drone Strike in South

Lebanon Official Media Report Israeli Drone Strike in South

6 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.