Major rating agencies have maintained stable outlooks on U.S. sovereign debt following prior downgrades, with Fitch affirming AA+ in August 2026, S&P affirming AA+ in June 2026, and Moody’s Aa1 holding after its May 2025 action. Recent affirmations cite economic resilience, tariff revenues, and expectations that fiscal deficits will remain elevated but not materially worsen in the near term, despite rising debt-to-GDP ratios projected toward 100% or higher. Smaller agencies such as Scope (AA- stable, October 2026) and DBRS (AAA stable) have similarly held ratings while flagging medium-term pressures from interest costs and the debt ceiling, which analysts expect to be addressed without default ahead of the mid-2027 deadline. These developments underpin trader consensus that further near-term downgrades are unlikely before 2027.