White House plays down rating cut fear

WASHINGTON (Reuters) - The United States does not believe its triple-A credit rating will be cut, White House spokesman Robert Gibbs said on Friday.

Gibbs, speaking at his daily press briefing, was asked to clarify an earlier statement in which he said President Barack Obama would not be concerned about a possible change in the rating.

Asked whether this meant Obama would not be concerned if the rating was cut or whether he was ruling out a cut, Gibbs replied, "I don't believe (it) will be cut."

The dollar dropped to its lowest level this year on Friday and was on track for its biggest weekly fall in two months on concerns about the United States' top AAA-rating status.

Moody's Investor Service on Thursday said it was comfortable with its triple-A sovereign rating on the United States, but that the rating was not guaranteed forever.

(Reporting by Ross Colvin and David Alexander; Editing by Eric Walsh)

Article Published: 22/05/2009