Fitch Ratings told reporters in Frankfurt that the United States’ AA+ sovereign rating, set after the 2023 downgrade from AAA, will likely remain unchanged for the next one to two years. Analyst James Longsdon said the downgrade already incorporated most fiscal headwinds, making a second downgrade “rare” in the near term.

Fitch’s stable outlook reflects confidence that the U.S. dollar still will retain its status as the world’s primary reserve currency, despite a recent one‑day slide triggered by President Donald Trump’s comments on its value. Longsdon noted that data shows the dollar’s share of global reserves has barely moved, cushioning the rating.

Moody’s completed its own downgrade to AA+ in May 2025, becoming the last major agency to strip the U.S. of its top tier. Investors will watch Treasury yields and fiscal policy debates closely; any further deficit widening could pressure the rating, while a stable outlook keeps borrowing costs relatively predictable for now.