Press Release|Sovereigns

KBRA Affirms AAA/K1+ Ratings for U.S. with a Stable Outlook

22 Mar 2024   |   New York

Contacts

KBRA affirms the long-term issuer ratings of AAA for United States of America’s (U.S.). KBRA also affirms the short-term issuer ratings of K1+. The Outlook on the long-term ratings is Stable.

This credit rating is an unsolicited credit rating
With Rated Entity or Related Third-Party ParticipationYes
With Access to Internal DocumentsNo
With Access to ManagementYes

KBRA's ratings of the U.S. reflect our expectations for the continued primacy of the U.S. dollar as the key global reserve currency and the abundant access to liquidity this affords. Repeated budget and debt ceiling brinkmanship is not constructive but does not pose a risk to KBRA’s view. Similarly, in KBRA’s view, large deficits and a growing interest bill are costly but do not overwhelm the U.S.’ fundamental and exceptional credit strengths.

To access rating and relevant documents, click here.

Click here to view the report.

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1003614

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