Investing.com – The United States is one of just 11 countries that manages to keep Fitch’s top notch rating as the number of triple-A rated countries hits its lowest level since 2003.
In a report released Thursday, Fitch Ratings commented that the number of sovereigns with AAA ratings was at a 14 year low, compared to the all-time high of 16 during 2004 to 2009, in what was a reflection of the longer term impact of the global financial crisis.
"This is less than 10% of Fitch's global sovereign portfolio, the smallest ever share for the rating category, and consistent with 'AAA' sovereigns now accounting for 40% of global government debt at end-2016, down from 48% a decade ago," Fitch’s global head of sovereign ratings James McCormack said.
Fitch added that the situation was unlikely to change over the next 12 to 24 months as all the triple-A countries had stable outlooks, while none of the countries with a rating one-notch lower had a positive outlook.
Besides the U.S., Australia, Canada, Denmark, Germany, Luxembourg, Netherlands, Norway, Singapore, Sweden and Switzerland are the countries with Fitch’s top rating.