DBRS Morningstar Continues to Assess the Impact of Polarization on U.S. Credit Fundamentals
DBRS Morningstar placed the U.S. ratings Under Review with Negative Implications on May 25, 2023. The rating action reflected the risk of Congress failing to increase or suspend the debt ceiling in a timely manner, particularly in the context of heightened political polarization. The passage of the Fiscal Responsibility Act of 2023 removes any near-term threat of payment delays or default, and enables the Treasury to pay its obligations on time. The rating nonetheless remains Under Review as we continue to consider the implications of the recent standoff and evaluate the impact of polarization on the predictability of U.S. policymaking.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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