Fitch Reaffirms AAA Rating

Take that, Standard & Poor's: Fitch Ratings says it will keep its rating on US debt at the highest grade, AAA, and says its outlook on the US ratings is stable. Fitch cited the United States' "flexible, diversified, and wealthy economy," as well as its flexibility in monetary and exchange rates that allows it to adjust to marketplace shocks. Standard & Poor's set off a tempest with its downgrade last week; the third main ratings agency, Moody's, still rates the US debt at its highest grade but says its outlook is negative. (More Fitch Ratings stories.)