Standard & Poor’s Ratings Services on Friday affirmed its AA+ long-term credit rating on the U.S., still a notch below the coveted AAA rating, while maintaining a long-term negative outlook.
The ratings service said its sovereign credit ratings on the U.S. “primarily reflect our view of the strengths of the U.S. economy and monetary system, as well as the U.S. dollar’s status as the world’s key reserve currency.”

However, S&P said U.S. political and fiscal sovereign credit risks could lead it to lower that rating by 2014. In a statement released after the close of U.S. stock markets, S&P said, “We see the U.S. economy as highly diversified and market-oriented, with an adaptable and resilient economic structure, all of which contribute to strong credit quality.”

In addition, S&P said it believes the Federal Reserve “has an excellent ability and willingness to support sustainable economic growth.”

Meanwhile, S&P said its current rating for U.S. credit also take into account the high level of U.S. debt and S&P’s long-held view that U.S. fiscal leaders have been ineffective in dealing with those debt problems.