Moody's maintains AAA rating on U.S.

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Moody's maintains AAA rating on U.S.
from MarketWatch.com - MarketPulse BOSTON (MarketWatch) -- Moody's Investor Services said Wednesday that it is maintaining its Aaa rating for the United States government, despite Congress's failure to reach an agreement on how to reduce the federal deficit. Moody's said it was maintaining the rating because of the $1.2 trillion in spending caps that are automatically slated to take effect beginning in January 2013. Moody's added it was continuing its negative outlook on the U.S. because of "the need over time for further deficit reduction to reverse the country's upward debt trajectory."