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U.S. Short-Term Rating Still Top Level

S&P’s affirmation of U.S.’s A1-plus means money funds don’t have to sell Treasuries.

By Robert Burgess, Bloomberg | Updated on August 08, 2011

The decision by Standard & Poor’s to affirm the U.S.’s short-term rating at the top A-1+ level even as it cut the long-term grade from AAA may help to stabilize money markets, according to strategists and economists.

The move means money market funds won’t be forced to sell Treasuries, said Mansoor Mohi-uddin, the Singapore-based chief currency strategist at UBS AG. The “impact” on money funds “appears to be limited,” Philip Marey, the senior U.S. strategist at Rabobank Groep in Utrecht, Netherlands, wrote in a report to clients.

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