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Sunday, 31 July 2011

Meet the countries in the Triple-A debt club - 17 countries have the world's highest credit rating, AAA -

Meet the countries in the Triple-A debt club - 17 countries have the world's highest credit rating, AAA - 




These 17 countries have the world's highest credit rating, AAA from both Moody's and Standard & Poor's, but the U.S. risks losing that high standing if lawmakers don't raise the debt ceiling.



Amid the contentious debt ceiling debate, the United States is at risk of being booted out of a prestigious group of countries that boast a spotless credit rating.
Only 17 countries in the world -- currently including the U.S. -- hold the highly coveted triple-A rating from both Standard & Poor's and Moody's. (S&P rates an additional three countries as triple-A, that aren't featured on Moody's list).
Germany, Canada, France, Norway, Sweden and Switzerland are among those with the undisputed stamp of approval -- so is the Isle of Man, a British crown dependency off Ireland's east coast, and Singapore (both of which are too small to see on our CNNMoney map above.)
Now, S&P and Moody's are questioning the United States' membership in this exclusive club.
The triple-A rating enables nations to borrow funds at a low cost, because their governments are considered stable and their bonds safe.
The U.S. for example, has seen its dollar become the world's No. 1 reserve currency because its bonds are held in such high regard by investors. They're backed by the "full faith and credit of the U.S. government" -- which until now, has never seriously been called into question.
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