Standard and Poor's raises U.S. credit outlookJune 10, 2013 - 20:00 AMT PanARMENIAN.Net - Rating agency Standard and Poor's has raised its credit outlook for the U.S. economy from negative to stable, BBC News reported. In August 2011, S&P downgraded the U.S. rating one notch from AAA to AA+, but now believes further downgrades are less likely as the economy continues to recover. The news saw the U.S. dollar strengthen 1.3% against the Japanese yen, and 0.2% against the euro. But S&P is still concerned about the high levels of U.S. debt. The move came as the Paris-based Organisation for Economic Cooperation and Development (OECD) said that economic growth in the U.S. and Japan was outstripping that of the eurozone. But most U.S. analysts remained cautious about the upgrade and the equity markets opened only slightly higher. Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington DC, said: "The revised rating is positive news for the dollar but I do not see it being a major catalyst. "This is just the latest indication that we are seeing a broad stabilisation and improvement in the economy and ultimately the government's fiscal position is improving, albeit slowly." Rival rating agencies Moody's and Fitch have both kept their AAA ratings for the U.S. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |