Moody's Will Not Downgrade US AAA Credit

CNN breaking:

Moody's Investors Service says the United States will retain its AAA credit rating after President Obama signed a bill to raise the federal debt ceiling.

Moody's assigned a negative outlook on the top-notch rating, echoing comments by Obama that the new deal was only a "first step" toward a long-term debt solution.

Still in question is the rating assigned by Standard & Poor's, which last month warned lawmakers of a possible downgrade.

The AAA rating enables nations to borrow funds at lower costs because their governments are considered stable and their bonds safe.